Simpson Manufacturing Co, Inc. (NYSE:SSD) – DA Davidson upped their Q3 2018 earnings per share (EPS) estimates for shares of Simpson Manufacturing in a research note issued to investors on Tuesday. DA Davidson analyst S. Chercover now forecasts that the construction company will earn $0.82 per share for the quarter, up from their prior forecast of $0.80. DA Davidson currently has a “Neutral” rating and a $60.00 price target on the stock. DA Davidson also issued estimates for Simpson Manufacturing’s Q4 2018 earnings at $0.58 EPS, FY2018 earnings at $2.69 EPS and FY2019 earnings at $3.30 EPS.
Several other equities research analysts also recently weighed in on SSD. Robert W. Baird reissued a “hold” rating and issued a $46.00 price target on shares of Simpson Manufacturing in a report on Friday, October 20th. Sidoti initiated coverage on Simpson Manufacturing in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $66.00 price target for the company. Finally, Zacks Investment Research downgraded Simpson Manufacturing from a “hold” rating to a “strong sell” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, February 5th. The construction company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $231.68 million for the quarter, compared to the consensus estimate of $224.47 million. Simpson Manufacturing had a net margin of 9.48% and a return on equity of 9.59%. Simpson Manufacturing’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Thursday, April 5th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, April 4th. Simpson Manufacturing’s payout ratio is 43.52%.
In related news, major shareholder Sharon H. Simpson sold 8,210 shares of Simpson Manufacturing stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $61.18, for a total transaction of $502,287.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roger Dankel sold 1,300 shares of Simpson Manufacturing stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $59.01, for a total value of $76,713.00. Following the transaction, the insider now owns 60 shares of the company’s stock, valued at $3,540.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 750,783 shares of company stock valued at $44,234,197. 0.36% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in SSD. Teachers Advisors LLC raised its position in Simpson Manufacturing by 5.7% during the second quarter. Teachers Advisors LLC now owns 73,936 shares of the construction company’s stock valued at $3,232,000 after acquiring an additional 3,998 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Simpson Manufacturing by 33.0% during the second quarter. TIAA CREF Investment Management LLC now owns 149,644 shares of the construction company’s stock valued at $6,541,000 after acquiring an additional 37,157 shares in the last quarter. Amalgamated Bank raised its position in Simpson Manufacturing by 2.0% during the second quarter. Amalgamated Bank now owns 5,591 shares of the construction company’s stock valued at $244,000 after acquiring an additional 112 shares in the last quarter. California Public Employees Retirement System raised its position in Simpson Manufacturing by 6.7% during the second quarter. California Public Employees Retirement System now owns 75,200 shares of the construction company’s stock valued at $3,287,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Simpson Manufacturing by 11.7% during the second quarter. Parametric Portfolio Associates LLC now owns 81,682 shares of the construction company’s stock valued at $3,570,000 after acquiring an additional 8,559 shares in the last quarter. Institutional investors own 83.97% of the company’s stock.
Simpson Manufacturing Company Profile
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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