Simpson Manufacturing Co, Inc. (NYSE:SSD) has been assigned a consensus broker rating score of 2.33 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Two research 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 declined by 133% in the last 90 days as a result of a number of analysts’ ratings changes.
Brokerages have set a 1-year consensus price target of $63.33 for the company and are predicting that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also assigned Simpson Manufacturing an industry rank of 100 out of 265 based on the ratings given to related companies.
Several research analysts have weighed in on SSD shares. Robert W. Baird restated a “hold” rating and issued a $46.00 price target on shares of Simpson Manufacturing in a research note on Friday, October 20th. DA Davidson downgraded Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a research note on Thursday, December 14th. Zacks Investment Research downgraded Simpson Manufacturing from a “hold” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Sidoti started coverage on Simpson Manufacturing in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $66.00 price target for the company.
Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, February 5th. The construction company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.10). Simpson Manufacturing had a return on equity of 9.64% and a net margin of 9.48%. The business had revenue of $231.68 million during the quarter, compared to the consensus estimate of $224.47 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. sell-side analysts expect that Simpson Manufacturing will post 2.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 26th. Shareholders of record on Thursday, April 5th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $0.84 annualized dividend and a yield of 1.50%. Simpson Manufacturing’s payout ratio is 43.52%.
In other news, insider Roger Dankel sold 1,300 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $59.01, for a total transaction of $76,713.00. Following the completion of the transaction, the insider now directly owns 60 shares in the company, valued at approximately $3,540.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sharon H. Simpson sold 45,541 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $59.08, for a total value of $2,690,562.28. The disclosure for this sale can be found here. Insiders sold a total of 750,783 shares of company stock valued at $44,234,197 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SSD. Macquarie Group Ltd. bought a new position in shares of Simpson Manufacturing during the 3rd quarter valued at approximately $103,000. Renaissance Technologies LLC bought a new position in shares of Simpson Manufacturing during the 4th quarter valued at approximately $207,000. Shelton Capital Management bought a new position in shares of Simpson Manufacturing during the 4th quarter valued at approximately $209,000. Everence Capital Management Inc. bought a new position in shares of Simpson Manufacturing during the 4th quarter valued at approximately $229,000. Finally, Neuberger Berman Group LLC bought a new position in shares of Simpson Manufacturing during the 3rd quarter valued at approximately $230,000. Hedge funds and other 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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