Simpson Manufacturing Company, Inc. (NYSE:SSD) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a report issued on Tuesday.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Simpson Manufacturing from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, July 25th. Robert W. Baird reaffirmed a “hold” rating and set a $46.00 target price on shares of Simpson Manufacturing in a report on Friday, October 20th. Finally, BidaskClub cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th.
Shares of Simpson Manufacturing (NYSE SSD) opened at 48.63 on Tuesday. The stock’s 50 day moving average is $48.61 and its 200 day moving average is $44.30. Simpson Manufacturing has a 52 week low of $39.82 and a 52 week high of $50.18. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 23.72 and a beta of 1.40.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The company had revenue of $262.50 million for the quarter, compared to the consensus estimate of $261.27 million. Simpson Manufacturing had a net margin of 10.78% and a return on equity of 10.26%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. On average, equities analysts forecast that Simpson Manufacturing will post $2.09 EPS for the current year.
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In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 18,562 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $49.69, for a total transaction of $922,345.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Psb Fund Simpson sold 72,424 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $49.23, for a total transaction of $3,565,433.52. Following the sale, the insider now directly owns 1,266,213 shares of the company’s stock, valued at $62,335,665.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 885,997 shares of company stock valued at $14,577,432,171. 0.36% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Simpson Manufacturing by 0.8% during the second quarter. BlackRock Inc. now owns 5,256,026 shares of the construction company’s stock valued at $229,740,000 after buying an additional 43,753 shares during the last quarter. Vanguard Group Inc. increased its holdings in Simpson Manufacturing by 3.6% during the first quarter. Vanguard Group Inc. now owns 3,561,119 shares of the construction company’s stock valued at $153,448,000 after buying an additional 123,129 shares during the last quarter. Franklin Resources Inc. increased its holdings in Simpson Manufacturing by 11.0% during the second quarter. Franklin Resources Inc. now owns 3,010,385 shares of the construction company’s stock valued at $131,584,000 after buying an additional 297,244 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Simpson Manufacturing by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,750,714 shares of the construction company’s stock valued at $76,524,000 after buying an additional 7,080 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Simpson Manufacturing during the second quarter valued at approximately $72,714,000. 84.09% of the stock is owned by institutional investors and hedge funds.
Simpson Manufacturing Company Profile
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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