Simpson Manufacturing (NYSE:SSD) Price Target Lowered to $185.00 at DA Davidson

by · The Markets Daily

Simpson Manufacturing (NYSE:SSD – Free Report) had its target price decreased by DA Davidson from $195.00 to $185.00 in a research report report published on Tuesday,Benzinga reports. DA Davidson currently has a neutral rating on the construction company’s stock.

Separately, Robert W. Baird lowered their price target on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th.

Read Our Latest Stock Report on Simpson Manufacturing

Simpson Manufacturing Trading Down 1.8 %

SSD stock opened at $154.41 on Tuesday. The firm has a fifty day moving average price of $166.02 and a 200 day moving average price of $176.81. Simpson Manufacturing has a fifty-two week low of $153.87 and a fifty-two week high of $208.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 3.21. The firm has a market cap of $6.51 billion, a PE ratio of 20.32 and a beta of 1.39.

Simpson Manufacturing (NYSE:SSD – Get Free Report) last posted its earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. Sell-side analysts anticipate that Simpson Manufacturing will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a $0.28 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. Simpson Manufacturing’s dividend payout ratio is presently 14.74%.

Insider Buying and Selling

In other news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the completion of the sale, the executive vice president now directly owns 8,810 shares in the company, valued at approximately $1,497,523.80. This trade represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by corporate insiders.

Institutional Trading of Simpson Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in SSD. Janney Montgomery Scott LLC lifted its position in shares of Simpson Manufacturing by 27.1% during the third quarter. Janney Montgomery Scott LLC now owns 5,100 shares of the construction company’s stock worth $975,000 after purchasing an additional 1,088 shares during the last quarter. Assetmark Inc. lifted its position in shares of Simpson Manufacturing by 16.3% during the third quarter. Assetmark Inc. now owns 13,868 shares of the construction company’s stock worth $2,653,000 after purchasing an additional 1,944 shares during the last quarter. Atria Investments Inc lifted its position in shares of Simpson Manufacturing by 8.1% during the third quarter. Atria Investments Inc now owns 14,084 shares of the construction company’s stock worth $2,694,000 after purchasing an additional 1,051 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Simpson Manufacturing during the third quarter worth $13,395,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Simpson Manufacturing in the third quarter valued at about $396,000. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Company Profile

(Get Free Report)

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.

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