Robert W. Baird lowered shares of Simpson Manufacturing (NYSE:SSD) from an outperform rating to a neutral rating in a research note released on Monday morning, MarketBeat reports. They currently have $72.00 target price on the construction company’s stock, down from their prior target price of $75.00.

A number of other brokerages have also recently commented on SSD. ValuEngine raised Simpson Manufacturing from a hold rating to a buy rating in a research report on Tuesday, July 31st. Zacks Investment Research raised Simpson Manufacturing from a sell rating to a hold rating and set a $82.00 price target on the stock in a research report on Thursday, August 2nd. Finally, Sidoti upgraded shares of Simpson Manufacturing from a neutral rating to a buy rating in a report on Tuesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $74.00.

Shares of SSD opened at $62.87 on Monday. Simpson Manufacturing has a 52 week low of $48.32 and a 52 week high of $78.36. The company has a market capitalization of $3.36 billion, a PE ratio of 31.75, a P/E/G ratio of 4.74 and a beta of 1.59.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, July 30th. The construction company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.21. Simpson Manufacturing had a return on equity of 12.61% and a net margin of 10.58%. The firm had revenue of $308.01 million for the quarter, compared to analysts’ expectations of $282.02 million. During the same period in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, research analysts predict that Simpson Manufacturing will post 3.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Thursday, October 4th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, October 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.40%. Simpson Manufacturing’s payout ratio is currently 44.44%.

In related news, Director James S. Andrasick sold 1,950 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $73.43, for a total value of $143,188.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in Simpson Manufacturing by 55.2% during the 2nd quarter. SG Americas Securities LLC now owns 16,937 shares of the construction company’s stock valued at $1,053,000 after buying an additional 6,023 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Simpson Manufacturing during the 2nd quarter valued at $636,000. Vident Investment Advisory LLC raised its stake in Simpson Manufacturing by 68.2% during the 2nd quarter. Vident Investment Advisory LLC now owns 14,590 shares of the construction company’s stock valued at $907,000 after buying an additional 5,914 shares during the last quarter. Swiss National Bank raised its stake in Simpson Manufacturing by 5.9% during the 2nd quarter. Swiss National Bank now owns 74,100 shares of the construction company’s stock valued at $4,608,000 after buying an additional 4,100 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Simpson Manufacturing during the 2nd quarter valued at $6,648,000. Institutional investors own 88.95% of the company’s stock.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.

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