Analysts Anticipate Simpson Manufacturing Co, Inc. (SSD) to Post $0.40 Earnings Per Share
Shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) have received an average broker rating score of 2.33 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Simpson Manufacturing’s rating score has improved by 22.3% from 90 days ago as a result of various analysts’ ratings changes.
Brokers have set a 1-year consensus target price of $63.33 for the company and are expecting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given Simpson Manufacturing an industry rank of 157 out of 265 based on the ratings given to related companies.
Several equities analysts recently commented on SSD shares. Robert W. Baird reiterated a “hold” rating and set a $46.00 target price on shares of Simpson Manufacturing in a research note on Friday, October 20th. DA Davidson upgraded shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Sidoti started coverage on shares of Simpson Manufacturing in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 target price for the company.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 4th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, January 3rd. Simpson Manufacturing’s payout ratio is currently 41.38%.
In related news, major shareholder Sharon H. Simpson sold 8,210 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $61.18, for a total transaction of $502,287.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sharon H. Simpson sold 11,962 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $49.05, for a total transaction of $586,736.10. Following the transaction, the insider now owns 769,504 shares of the company’s stock, valued at $37,744,171.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 729,704 shares of company stock valued at $38,410,867. Corporate insiders own 0.36% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SSD. Janus Henderson Group PLC bought a new stake in Simpson Manufacturing in the 2nd quarter valued at $72,714,000. Wells Fargo & Company MN increased its holdings in Simpson Manufacturing by 10.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,623,796 shares of the construction company’s stock valued at $70,977,000 after buying an additional 153,164 shares during the period. Conestoga Capital Advisors LLC increased its holdings in Simpson Manufacturing by 13.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,203,520 shares of the construction company’s stock valued at $59,021,000 after buying an additional 138,960 shares during the period. Bank of New York Mellon Corp increased its holdings in Simpson Manufacturing by 8.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,307,907 shares of the construction company’s stock valued at $64,141,000 after buying an additional 105,480 shares during the period. Finally, Brown Advisory Inc. increased its holdings in Simpson Manufacturing by 13.9% in the 3rd quarter. Brown Advisory Inc. now owns 824,053 shares of the construction company’s stock valued at $40,411,000 after buying an additional 100,558 shares during the period. 84.49% of the stock is currently owned by hedge funds and other institutional investors.
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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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