Simpson Manufacturing Company, Inc. (NYSE:SSD) Receives Consensus Rating of “Hold” from Analysts

Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) have been given an average rating of “Hold” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $216.25.

A number of research firms recently commented on SSD. Robert W. Baird boosted their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. DA Davidson lifted their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Stifel Nicolaus upped their price target on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $197.29 on Thursday. Simpson Manufacturing has a one year low of $156.32 and a one year high of $213.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The business has a fifty day moving average of $193.54 and a two-hundred day moving average of $187.66. The company has a market cap of $8.12 billion, a P/E ratio of 21.56 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.37. The business had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 EPS. As a group, analysts predict that Simpson Manufacturing will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing’s payout ratio is currently 13.11%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in 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. V Square Quantitative Management LLC purchased a new position in Simpson Manufacturing in the 4th quarter valued at about $28,000. Los Angeles Capital Management LLC purchased a new position in Simpson Manufacturing in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Simpson Manufacturing during the 3rd quarter worth about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Simpson Manufacturing during the first quarter worth about $37,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

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.