Simpson Manufacturing Company, Inc. (SSD) Lowered to “Hold” at BidaskClub
Simpson Manufacturing Company, Inc. (NYSE:SSD) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
Separately, Zacks Investment Research cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd.
Shares of Simpson Manufacturing (SSD) traded down 0.21% during mid-day trading on Wednesday, hitting $43.26. 19,375 shares of the company were exchanged. The firm has a 50 day moving average of $43.80 and a 200 day moving average of $42.71. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 21.10 and a beta of 1.41. Simpson Manufacturing has a 12-month low of $39.82 and a 12-month high of $48.41.
Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Thursday, July 27th. The construction company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. Simpson Manufacturing had a return on equity of 10.26% and a net margin of 10.78%. The business had revenue of $263 million for the quarter, compared to analysts’ expectations of $259.05 million. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. Equities research analysts forecast that Simpson Manufacturing will post $2.09 earnings per share for the current year.
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In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 67,163 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $43.62, for a total transaction of $2,929,650.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Sharon H. Simpson sold 60,061 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $43.46, for a total value of $2,610,251.06. The disclosure for this sale can be found here. Insiders sold 350,999 shares of company stock worth $15,341,008 over the last quarter. 0.36% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of SSD. Teachers Advisors LLC boosted its position in Simpson Manufacturing by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 68,034 shares of the construction company’s stock worth $2,976,000 after buying an additional 1,459 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Simpson Manufacturing by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the construction company’s stock worth $711,000 after buying an additional 300 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in Simpson Manufacturing by 4.0% in the first quarter. Conestoga Capital Advisors LLC now owns 1,005,160 shares of the construction company’s stock worth $43,312,000 after buying an additional 38,695 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Simpson Manufacturing by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,470 shares of the construction company’s stock worth $192,000 after buying an additional 90 shares during the last quarter. Finally, Hermes Investment Management Ltd. boosted its position in Simpson Manufacturing by 2.8% in the first quarter. Hermes Investment Management Ltd. now owns 627,473 shares of the construction company’s stock worth $27,038,000 after buying an additional 17,031 shares during the last quarter. Hedge funds and other institutional investors own 84.90% of the company’s stock.
About Simpson Manufacturing
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.
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