Simpson Manufacturing Co, Inc. (NYSE:SSD) announced a quarterly dividend on Tuesday, May 1st, Wall Street Journal reports. Investors of record on Thursday, July 5th will be given a dividend of 0.22 per share by the construction company on Thursday, July 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Tuesday, July 3rd. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.21.
Simpson Manufacturing has raised its dividend payment by an average of 13.7% annually over the last three years and has raised its dividend every year for the last 4 years. Simpson Manufacturing has a dividend payout ratio of 44.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Simpson Manufacturing to earn $3.55 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 23.7%.
Simpson Manufacturing opened at $61.67 on Thursday, according to MarketBeat Ratings. The stock has a market capitalization of $2.91 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 4.48 and a beta of 1.54. Simpson Manufacturing has a twelve month low of $41.79 and a twelve month high of $67.32.
Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, April 30th. The construction company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.06. The business had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $237.57 million. Simpson Manufacturing had a net margin of 9.47% and a return on equity of 10.85%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. equities analysts expect that Simpson Manufacturing will post 2.81 EPS for the current year.
In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 21,553 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $57.35, for a total transaction of $1,236,064.55. Following the sale, the insider now directly owns 719,269 shares of the company’s stock, valued at $41,250,077.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Psb Fund Simpson sold 3,665 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $57.20, for a total transaction of $209,638.00. Following the sale, the insider now directly owns 719,269 shares in the company, valued at $41,142,186.80. The disclosure for this sale can be found here. Insiders have sold 443,495 shares of company stock worth $25,520,543 over the last ninety days. Insiders own 0.39% of the company’s stock.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Simpson Manufacturing from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. ValuEngine raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $64.25.
Simpson Manufacturing Company Profile
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.
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