Simpson Manufacturing (NYSE:SSD) Cut to Hold at StockNews.com

StockNews.com cut shares of Simpson Manufacturing (NYSE:SSD) from a buy rating to a hold rating in a research report report published on Thursday morning.

Separately, Robert W. Baird increased their target price on Simpson Manufacturing from $205.00 to $215.00 and gave the company an outperform rating in a research note on Thursday, April 18th.

Simpson Manufacturing Stock Performance

NYSE:SSD opened at $181.05 on Thursday. The company has a quick ratio of 2.19, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The company has a market cap of $7.69 billion, a P/E ratio of 22.69 and a beta of 1.33. The firm’s 50 day moving average is $193.89 and its two-hundred day moving average is $180.36. Simpson Manufacturing has a fifty-two week low of $117.08 and a fifty-two week high of $218.38.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, April 22nd. The construction company reported $1.77 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.07). The firm had revenue of $530.58 million for the quarter, compared to analyst estimates of $549.87 million. Simpson Manufacturing had a return on equity of 20.51% and a net margin of 15.45%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 earnings per share. Analysts expect that Simpson Manufacturing will post 8.44 EPS for the current year.

Simpson Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 4th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, July 3rd. Simpson Manufacturing’s dividend payout ratio is 13.53%.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total transaction of $168,368.00. Following the completion of the sale, the executive vice president now owns 28,764 shares in the company, valued at $5,697,573.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Roger Dankel sold 850 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total transaction of $168,368.00. Following the completion of the transaction, the executive vice president now directly owns 28,764 shares in the company, valued at approximately $5,697,573.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jennifer Chatman sold 934 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the sale, the director now owns 14,638 shares in the company, valued at $2,817,522.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,784 shares of company stock valued at $770,924. Insiders own 0.42% of the company’s stock.

Institutional Trading of Simpson Manufacturing

Several large investors have recently added to or reduced their stakes in SSD. Xponance Inc. increased its position in shares of Simpson Manufacturing by 1.1% during the 4th quarter. Xponance Inc. now owns 6,216 shares of the construction company’s stock valued at $1,231,000 after purchasing an additional 67 shares during the period. Jennison Associates LLC raised its holdings in shares of Simpson Manufacturing by 1.8% in the 1st quarter. Jennison Associates LLC now owns 5,023 shares of the construction company’s stock worth $1,031,000 after purchasing an additional 90 shares in the last quarter. Private Advisor Group LLC lifted its stake in Simpson Manufacturing by 4.3% during the first quarter. Private Advisor Group LLC now owns 2,199 shares of the construction company’s stock valued at $451,000 after purchasing an additional 91 shares during the last quarter. CWM LLC boosted its holdings in Simpson Manufacturing by 50.2% during the first quarter. CWM LLC now owns 323 shares of the construction company’s stock worth $66,000 after buying an additional 108 shares in the last quarter. Finally, Signaturefd LLC grew its position in Simpson Manufacturing by 36.1% in the third quarter. Signaturefd LLC now owns 415 shares of the construction company’s stock worth $62,000 after buying an additional 110 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

About Simpson Manufacturing

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