Simpson Manufacturing Company, Inc. (SSD) Stock Rating Upgraded by BidaskClub
Simpson Manufacturing Company, Inc. (NYSE:SSD) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.
Separately, Zacks Investment Research downgraded Simpson Manufacturing Company from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd.
Shares of Simpson Manufacturing Company (NYSE:SSD) traded down 0.55% on Monday, hitting $43.47. The stock had a trading volume of 139,764 shares. The company’s 50 day moving average price is $41.51 and its 200-day moving average price is $43.10. Simpson Manufacturing Company has a 12 month low of $37.06 and a 12 month high of $48.41. The company has a market cap of $2.07 billion, a P/E ratio of 21.72 and a beta of 1.42.
Simpson Manufacturing Company (NYSE:SSD) last posted its quarterly earnings results on Thursday, April 27th. The construction company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $219.87 million for the quarter, compared to analysts’ expectations of $210.66 million. Simpson Manufacturing Company had a net margin of 10.95% and a return on equity of 10.08%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, analysts expect that Simpson Manufacturing Company will post $2.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 27th. Shareholders of record on Thursday, July 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, July 3rd. This is an increase from Simpson Manufacturing Company’s previous quarterly dividend of $0.18. Simpson Manufacturing Company’s payout ratio is presently 36.00%.
ILLEGAL ACTIVITY NOTICE: “Simpson Manufacturing Company, Inc. (SSD) Stock Rating Upgraded by BidaskClub” was posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/06/19/simpson-manufacturing-company-inc-ssd-stock-rating-upgraded-by-bidaskclub.html.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Simpson Manufacturing Company by 155,956.1% in the first quarter. BlackRock Inc. now owns 5,212,273 shares of the construction company’s stock valued at $224,596,000 after buying an additional 5,208,933 shares during the last quarter. Wells Fargo & Company MN increased its stake in Simpson Manufacturing Company by 46.1% in the first quarter. Wells Fargo & Company MN now owns 1,470,632 shares of the construction company’s stock valued at $63,369,000 after buying an additional 464,356 shares during the last quarter. Norges Bank purchased a new stake in Simpson Manufacturing Company during the fourth quarter valued at $18,946,000. Bank of New York Mellon Corp increased its stake in Simpson Manufacturing Company by 20.2% in the first quarter. Bank of New York Mellon Corp now owns 1,057,804 shares of the construction company’s stock valued at $45,580,000 after buying an additional 177,602 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Simpson Manufacturing Company by 111.4% in the first quarter. JPMorgan Chase & Co. now owns 336,836 shares of the construction company’s stock valued at $14,514,000 after buying an additional 177,527 shares during the last quarter. Institutional investors and hedge funds own 83.37% of the company’s stock.
About Simpson Manufacturing Company
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
Receive News & Ratings for Simpson Manufacturing Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.