Simpson Manufacturing Company, Inc. (NYSE:SSD) Sees Large Drop in Short Interest
by Jessica Moore · The Cerbat GemSimpson Manufacturing Company, Inc. (NYSE:SSD – Get Free Report) saw a significant drop in short interest in April. As of April 15th, there was short interest totaling 1,055,167 shares, a drop of 16.1% from the March 31st total of 1,258,384 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 234,211 shares, the short-interest ratio is currently 4.5 days.
Analyst Ratings Changes
Several analysts have recently commented on SSD shares. Stephens increased their price target on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Tuesday. Weiss Ratings cut shares of Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 2nd. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. DA Davidson increased their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Simpson Manufacturing presently has an average rating of “Hold” and a consensus target price of $214.75.
Check Out Our Latest Research Report on Simpson Manufacturing
Simpson Manufacturing Trading Up 0.7%
SSD stock traded up $1.36 during midday trading on Friday, reaching $192.09. The company’s stock had a trading volume of 340,032 shares, compared to its average volume of 298,977. Simpson Manufacturing has a 52 week low of $151.38 and a 52 week high of $211.98. The stock has a market cap of $7.91 billion, a PE ratio of 22.52 and a beta of 1.34. The company has a quick ratio of 1.99, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $180.16 and its 200-day simple moving average is $177.21.
Simpson Manufacturing (NYSE:SSD – Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $1.85 earnings per share. As a group, sell-side analysts expect that Simpson Manufacturing will post 9.18 EPS for the current year.
Institutional Investors Weigh In On Simpson Manufacturing
Hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. raised its holdings in shares of Simpson Manufacturing by 43.2% during the third quarter. Alps Advisors Inc. now owns 28,843 shares of the construction company’s stock worth $4,830,000 after acquiring an additional 8,706 shares during the period. Westview Management dba Westview Investment Advisors acquired a new stake in shares of Simpson Manufacturing during the fourth quarter worth $2,074,000. EULAV Asset Management acquired a new stake in shares of Simpson Manufacturing during the third quarter worth $5,526,000. Campbell & CO Investment Adviser LLC raised its holdings in shares of Simpson Manufacturing by 340.1% during the third quarter. Campbell & CO Investment Adviser LLC now owns 14,221 shares of the construction company’s stock worth $2,381,000 after acquiring an additional 10,990 shares during the period. Finally, Cooke & Bieler LP acquired a new stake in shares of Simpson Manufacturing during the third quarter worth $12,211,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.
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.