Simpson Manufacturing Company, Inc. (SSD) Posts Earnings Results, Misses Expectations By $0.02 EPS
Simpson Manufacturing Company, Inc. (NYSE:SSD) issued its quarterly earnings data on Monday. The construction company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02), Bloomberg Earnings reports. The firm had revenue of $262.50 million for the quarter, compared to analyst estimates of $261.27 million. Simpson Manufacturing had a return on equity of 9.92% and a net margin of 10.25%. Simpson Manufacturing’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Thursday, January 4th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, January 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.44%. Simpson Manufacturing’s payout ratio is currently 41.58%.
In related news, insider Psb Fund Simpson sold 96,629 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $49.59, for a total transaction of $4,791,832.11. Following the sale, the insider now owns 942,245 shares of the company’s stock, valued at $46,725,929.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sharon H. Simpson sold 24,973 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $49.07, for a total value of $1,225,425.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 966,062 shares of company stock worth $14,581,567,733. Corporate insiders own 0.36% of the company’s stock.
Simpson Manufacturing declared that its board has approved a stock repurchase program on Wednesday, August 2nd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of equities research analysts recently issued reports on SSD shares. Zacks Investment Research raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, July 25th. BidaskClub cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. DA Davidson raised shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird reissued a “hold” rating and issued a $46.00 price target on shares of Simpson Manufacturing in a research note on Friday, October 20th.
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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