Simpson Manufacturing Company, Inc. (NYSE:SSD) Receives Average Recommendation of “Moderate Buy” from Analysts

Simpson Manufacturing Company, Inc. (NYSE:SSD) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $214.75.

A number of analysts have recently issued reports on SSD shares. DA Davidson boosted their target price on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Robert W. Baird boosted their target price on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Stifel Nicolaus boosted their target price on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th.

Simpson Manufacturing Stock Up 0.1%

Shares of SSD opened at $198.48 on Wednesday. The firm has a market capitalization of $8.17 billion, a P/E ratio of 23.27 and a beta of 1.32. Simpson Manufacturing has a 12-month low of $154.22 and a 12-month high of $211.98. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average price of $187.26 and a 200-day moving average price of $182.24.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.29. The firm had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 earnings per share. Equities research analysts expect that Simpson Manufacturing will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be issued a $0.30 dividend. The ex-dividend date is Thursday, July 2nd. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is presently 13.60%.

Institutional Trading of Simpson Manufacturing

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after acquiring an additional 92 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Simpson Manufacturing by 322.5% in the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after acquiring an additional 129 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Simpson Manufacturing in the fourth quarter valued at about $28,000. Los Angeles Capital Management LLC bought a new stake in shares of Simpson Manufacturing in the fourth quarter valued at about $32,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Simpson Manufacturing in the third quarter valued at about $34,000. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.