Simpson Manufacturing Company, Inc. (NYSE:SSD) to Issue $0.30 Quarterly Dividend

Simpson Manufacturing Company, Inc. (NYSE:SSD) declared a quarterly dividend on Friday, July 24th. Stockholders of record on Thursday, October 1st will be paid a dividend of 0.30 per share by the construction company on Thursday, October 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 1st.

Simpson Manufacturing has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 11 years. Simpson Manufacturing has a dividend payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Simpson Manufacturing to earn $9.97 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 12.0%.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $193.58 on Friday. The stock’s 50 day moving average is $192.35 and its 200 day moving average is $186.69. Simpson Manufacturing has a one year low of $156.32 and a one year high of $213.49. The firm has a market cap of $7.96 billion, a P/E ratio of 22.69 and a beta of 1.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm had revenue of $587.96 million for the quarter, compared to the consensus estimate of $550.08 million. During the same quarter in the previous year, the company earned $1.85 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts expect that Simpson Manufacturing will post 9.07 EPS for the current year.

Analyst Ratings Changes

SSD has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Robert W. Baird boosted their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Stephens boosted their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. DA Davidson upped their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus raised their target price on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $214.75.

About Simpson Manufacturing

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.