Simpson Manufacturing (NYSE:SSD) Announces Earnings Results, Beats Estimates By $0.31 EPS
by Jessica Moore · The Cerbat GemSimpson Manufacturing (NYSE:SSD – Get Free Report) released its earnings results on Monday. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.31, Zacks reports. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.
Simpson Manufacturing Stock Performance
Shares of Simpson Manufacturing stock traded up $5.01 on Monday, hitting $186.58. The stock had a trading volume of 294,870 shares, compared to its average volume of 266,404. Simpson Manufacturing has a 52-week low of $149.79 and a 52-week high of $211.98. The company has a current ratio of 3.54, a quick ratio of 1.99 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 22.62 and a beta of 1.37. The company’s 50 day moving average price is $181.41 and its 200 day moving average price is $176.74.
Simpson Manufacturing Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, April 2nd. Simpson Manufacturing’s payout ratio is presently 14.06%.
Analyst Ratings Changes
A number of brokerages have issued reports on SSD. Stephens set a $200.00 price target on Simpson Manufacturing in a report on Tuesday, February 10th. Stifel Nicolaus began coverage on Simpson Manufacturing in a report on Monday, April 20th. They set a “buy” rating and a $205.00 price target for the company. Robert W. Baird decreased their price target on Simpson Manufacturing to $216.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. DA Davidson lifted their price target on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Finally, Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Simpson Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $205.25.
Read Our Latest Stock Report on Simpson Manufacturing
Institutional Trading of Simpson Manufacturing
Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after purchasing an additional 92 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Simpson Manufacturing in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Simpson Manufacturing in the 3rd quarter valued at about $34,000. Smartleaf Asset Management LLC lifted its holdings in shares of Simpson Manufacturing by 33.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after purchasing an additional 57 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Simpson Manufacturing in the 4th quarter valued at about $51,000. 93.68% of the stock is owned by hedge funds and other institutional investors.
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.