Simpson Manufacturing (NYSE:SSD) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a buy rating in a research report released on Saturday morning.

Other equities analysts have also issued research reports about the company. DA Davidson increased their target price on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Robert W. Baird set a $222.00 price objective on Simpson Manufacturing in a report on Tuesday, February 10th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 12th. Finally, Stephens set a $200.00 target price on shares of Simpson Manufacturing in a research report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.33.

Simpson Manufacturing Price Performance

Shares of SSD opened at $193.57 on Friday. The company’s 50-day moving average is $184.19 and its 200-day moving average is $178.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.54 and a quick ratio of 1.99. The firm has a market capitalization of $8.03 billion, a PE ratio of 23.46 and a beta of 1.37. Simpson Manufacturing has a fifty-two week low of $137.35 and a fifty-two week high of $211.98.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $539.35 million for the quarter, compared to analyst estimates of $530.70 million. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. Simpson Manufacturing’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 EPS. Equities analysts forecast that Simpson Manufacturing will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, April 2nd. Simpson Manufacturing’s dividend payout ratio is presently 14.06%.

Insider Activity at Simpson Manufacturing

In related news, Director Philip E. Donaldson sold 2,375 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $168.16, for a total value of $399,380.00. Following the transaction, the director owned 6,086 shares in the company, valued at approximately $1,023,421.76. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Simpson Manufacturing

A number of large investors have recently bought and sold shares of SSD. EverSource Wealth Advisors LLC raised its position in shares of Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after buying an additional 92 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Simpson Manufacturing by 322.5% in the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after acquiring an additional 129 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Simpson Manufacturing during the fourth quarter valued at approximately $28,000. Los Angeles Capital Management LLC acquired a new position in Simpson Manufacturing during the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. bought a new stake in Simpson Manufacturing during the third quarter worth $34,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.