Shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $64.25.
Several research firms have recently issued reports on SSD. Zacks Investment Research upgraded Simpson Manufacturing from a “sell” rating to a “hold” rating and set a $67.00 price target on the stock in a research report on Thursday, May 3rd. ValuEngine upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd.
Simpson Manufacturing opened at $65.16 on Thursday, Marketbeat reports. Simpson Manufacturing has a 12-month low of $41.79 and a 12-month high of $67.32. The firm has a market capitalization of $3.00 billion, a PE ratio of 32.91, a P/E/G ratio of 4.61 and a beta of 1.54.
Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, April 30th. The construction company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.06. Simpson Manufacturing had a return on equity of 10.85% and a net margin of 9.47%. The business had revenue of $244.80 million for the quarter, compared to analyst estimates of $237.57 million. During the same period last year, the company earned $0.30 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. research analysts anticipate that Simpson Manufacturing will post 2.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 26th. Shareholders of record on Thursday, July 5th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, July 3rd. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.35%. Simpson Manufacturing’s payout ratio is currently 42.42%.
In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 50,000 shares of Simpson Manufacturing stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $57.50, for a total transaction of $2,875,000.00. Following the transaction, the insider now directly owns 719,269 shares in the company, valued at $41,357,967.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Psb Fund Simpson sold 42,419 shares of Simpson Manufacturing stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $57.68, for a total value of $2,446,727.92. Following the transaction, the insider now owns 719,269 shares in the company, valued at $41,487,435.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 636,405 shares of company stock worth $36,605,974. Corporate insiders own 0.39% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Suntrust Banks Inc. bought a new position in Simpson Manufacturing during the first quarter worth about $1,652,000. Principal Financial Group Inc. lifted its holdings in shares of Simpson Manufacturing by 1.6% in the first quarter. Principal Financial Group Inc. now owns 349,731 shares of the construction company’s stock valued at $20,141,000 after purchasing an additional 5,575 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Simpson Manufacturing by 26.1% in the first quarter. Xact Kapitalforvaltning AB now owns 4,837 shares of the construction company’s stock valued at $279,000 after purchasing an additional 1,000 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Simpson Manufacturing by 1.1% in the first quarter. Legal & General Group Plc now owns 86,324 shares of the construction company’s stock valued at $4,954,000 after purchasing an additional 943 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Simpson Manufacturing by 25.1% in the first quarter. Barclays PLC now owns 34,476 shares of the construction company’s stock valued at $1,986,000 after purchasing an additional 6,927 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
Receive News & Ratings for Simpson Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.