Simpson Manufacturing Company, Inc. (NYSE:SSD) Stock Has Consensus Price Target of $216.25 According to Analysts

Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) have been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $216.25.

Several equities research analysts have recently weighed in on SSD shares. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Stephens raised their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research report on Tuesday, July 28th. Stifel Nicolaus upped their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $172.72 on Friday. The company has a market capitalization of $7.11 billion, a P/E ratio of 18.88 and a beta of 1.32. The company’s 50-day moving average is $183.77 and its 200 day moving average is $185.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. Simpson Manufacturing has a fifty-two week low of $156.32 and a fifty-two week high of $213.49.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The business had revenue of $671.08 million during the quarter, compared to the consensus estimate of $658.76 million. During the same period last year, the business posted $2.47 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Simpson Manufacturing will post 9.14 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. Simpson Manufacturing’s dividend payout ratio (DPR) is 13.11%.

Insider Activity

In related news, CEO Michael Olosky sold 3,502 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $172.84, for a total transaction of $605,285.68. Following the transaction, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at approximately $8,883,630.32. This trade represents a 6.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Simpson Manufacturing

Several institutional investors and hedge funds have recently bought and sold shares of SSD. BlackRock Inc. purchased a new stake in shares of Simpson Manufacturing in the 2nd quarter worth about $862,138,000. State Street Corp increased its position in shares of Simpson Manufacturing by 2.9% during the second quarter. State Street Corp now owns 1,308,394 shares of the construction company’s stock valued at $273,910,000 after buying an additional 37,206 shares during the period. Quantinno Capital Management LP increased its position in shares of Simpson Manufacturing by 0.5% during the first quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock valued at $147,236,000 after buying an additional 4,168 shares during the period. Geode Capital Management LLC raised its stake in Simpson Manufacturing by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company’s stock worth $123,603,000 after buying an additional 6,869 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Simpson Manufacturing by 93.7% in the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock worth $107,086,000 after buying an additional 320,870 shares during the period. 93.68% of the stock is currently owned by institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for wood, concrete and masonry construction. Its products are used to connect and reinforce building components in residential, commercial and industrial projects, as well as in infrastructure and seismic-strengthening applications.

The company’s offerings include structural connectors, fasteners, anchors, adhesives, reinforcing products and other building-system components. Through its Simpson Strong-Tie brand, Simpson also provides engineered systems, technical support, design tools, training and construction software intended to help contractors, engineers and building professionals design and install structural connections.

Founded in 1956, Simpson Manufacturing primarily serves customers through operations and distribution networks in the United States, Canada and Europe.