Zacks Investment Research upgraded shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) from a sell rating to a hold rating in a report issued on Tuesday, July 4th.
According to Zacks, “SIMPSON MANUFACTURING designs,engineers and manufactures wood-to-wood, wood-to-concrete and wood-to-masonry connectors. “
Separately, BidaskClub upgraded Simpson Manufacturing from a sell rating to a hold rating in a research note on Tuesday, June 13th.
Shares of Simpson Manufacturing (SSD) traded down 0.30% during midday trading on Tuesday, hitting $43.72. 269,877 shares of the stock were exchanged. Simpson Manufacturing has a 1-year low of $39.82 and a 1-year high of $48.41. The company has a market capitalization of $2.08 billion, a P/E ratio of 21.33 and a beta of 1.40. The firm has a 50-day moving average of $43.52 and a 200-day moving average of $42.70.
Simpson Manufacturing (NYSE:SSD) last released its earnings results on Thursday, July 27th. The construction company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $263 million during the quarter, compared to the consensus estimate of $259.05 million. Simpson Manufacturing had a return on equity of 10.34% and a net margin of 10.78%. Simpson Manufacturing’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. On average, equities analysts expect that Simpson Manufacturing will post $2.08 EPS for the current year.
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In other news, insider Psb Fund Simpson sold 30,030 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $43.46, for a total value of $1,305,103.80. Following the transaction, the insider now owns 1,312,337 shares of the company’s stock, valued at $57,034,166.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Sharon H. Simpson sold 106,776 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $43.90, for a total value of $4,687,466.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,999 shares of company stock valued at $15,341,008. 0.36% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of SSD. Elkfork Partners LLC boosted its position in Simpson Manufacturing by 2.3% in the first quarter. Elkfork Partners LLC now owns 2,492 shares of the construction company’s stock worth $107,000 after buying an additional 56 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in Simpson Manufacturing by 2.3% in the first quarter. Meadow Creek Investment Management LLC now owns 3,026 shares of the construction company’s stock worth $130,000 after buying an additional 68 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Simpson Manufacturing by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,470 shares of the construction company’s stock worth $192,000 after buying an additional 90 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Simpson Manufacturing by 0.9% in the first quarter. M&T Bank Corp now owns 14,725 shares of the construction company’s stock worth $635,000 after buying an additional 134 shares during the last quarter. Finally, Texas Permanent School Fund boosted its stake in shares of Simpson Manufacturing by 0.8% in the second quarter. Texas Permanent School Fund now owns 29,574 shares of the construction company’s stock worth $1,293,000 after buying an additional 249 shares during the last quarter. Institutional investors own 83.62% of the company’s stock.
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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