Simpson Manufacturing Company, Inc. (NYSE:SSD) Given Consensus Rating of “Hold” by Analysts

Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) have received an average rating of “Hold” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $214.75.

A number of brokerages have issued reports on SSD. Robert W. Baird upped their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Stephens boosted their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Weiss Ratings lowered Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Finally, DA Davidson raised their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th.

Institutional Investors Weigh In On Simpson Manufacturing

Institutional investors have recently made changes to their positions in the company. Candriam S.C.A. purchased a new stake in Simpson Manufacturing in the 1st quarter valued at about $7,133,000. Cooke & Bieler LP increased its position in shares of Simpson Manufacturing by 77.9% during the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock worth $20,940,000 after acquiring an additional 56,769 shares during the period. Westview Management dba Westview Investment Advisors purchased a new position in shares of Simpson Manufacturing during the fourth quarter worth approximately $2,074,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Simpson Manufacturing during the first quarter valued at approximately $4,424,000. Finally, Comerica Bank raised its stake in shares of Simpson Manufacturing by 21.6% during the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock valued at $19,921,000 after acquiring an additional 21,889 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $188.98 on Friday. The company’s 50-day moving average price is $191.90 and its 200-day moving average price is $185.83. Simpson Manufacturing has a twelve month low of $156.32 and a twelve month high of $213.49. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The company has a market cap of $7.77 billion, a PE ratio of 22.15 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 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 the consensus estimate of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. On average, equities research analysts forecast that Simpson Manufacturing will post 9.17 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be paid a $0.30 dividend. 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%. The ex-dividend date of this dividend is Thursday, July 2nd. Simpson Manufacturing’s payout ratio is currently 14.07%.

About Simpson Manufacturing

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.