Simpson Manufacturing (NYSE:SSD) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, Robert W. Baird raised their price objective on Simpson Manufacturing from $205.00 to $215.00 and gave the company an outperform rating in a research report on Thursday, April 18th.

Simpson Manufacturing Trading Up 0.2 %

NYSE SSD opened at $169.56 on Wednesday. Simpson Manufacturing has a twelve month low of $117.08 and a twelve month high of $218.38. The firm has a market capitalization of $7.20 billion, a PE ratio of 21.25 and a beta of 1.30. The company has a quick ratio of 2.11, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $196.61 and its 200 day moving average is $178.86.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.07). The business had revenue of $530.58 million for the quarter, compared to analysts’ expectations of $549.87 million. Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The company’s revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $2.05 earnings per share. Research analysts forecast that Simpson Manufacturing will post 8.74 earnings per share for the current fiscal year.

Insider Transactions at Simpson Manufacturing

In related news, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the transaction, the director now directly owns 14,638 shares in the company, valued at approximately $2,817,522.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing stock in a transaction on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the sale, the director now owns 14,638 shares of the company’s stock, valued at approximately $2,817,522.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Phillip Burton sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the completion of the transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,784 shares of company stock worth $770,924. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Simpson Manufacturing

Institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in shares of Simpson Manufacturing by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the construction company’s stock worth $2,524,000 after buying an additional 300 shares in the last quarter. Wesbanco Bank Inc. bought a new position in shares of Simpson Manufacturing during the first quarter valued at approximately $908,000. Hunter Perkins Capital Management LLC purchased a new position in shares of Simpson Manufacturing in the 1st quarter worth approximately $1,340,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Simpson Manufacturing by 13.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,239 shares of the construction company’s stock worth $1,896,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Outlook Wealth Advisors LLC lifted its position in Simpson Manufacturing by 21.7% during the first quarter. Outlook Wealth Advisors LLC now owns 1,782 shares of the construction company’s stock valued at $366,000 after acquiring an additional 318 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.