ValuEngine Lowers Simpson Manufacturing (SSD) to Hold

ValuEngine downgraded shares of Simpson Manufacturing (NYSE:SSD) from a buy rating to a hold rating in a research note released on Thursday morning.

Several other analysts have also issued reports on SSD. Zacks Investment Research lowered shares of Simpson Manufacturing from a hold rating to a sell rating in a research report on Tuesday, July 24th. Robert W. Baird set a $75.00 price target on shares of Simpson Manufacturing and gave the company a buy rating in a research report on Monday, July 30th. Finally, Sidoti upgraded shares of Simpson Manufacturing from a neutral rating to a buy rating in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $74.00.

NYSE SSD traded down $1.12 during trading on Thursday, hitting $59.84. 7,118 shares of the company’s stock traded hands, compared to its average volume of 343,534. Simpson Manufacturing has a 12-month low of $48.32 and a 12-month high of $78.36. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 4.15 and a beta of 1.59.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, July 30th. The construction company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.21. Simpson Manufacturing had a net margin of 10.58% and a return on equity of 12.61%. The business had revenue of $308.01 million during the quarter, compared to analyst estimates of $282.02 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. Equities analysts expect that Simpson Manufacturing will post 3.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Thursday, October 4th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, October 3rd. This represents a $0.88 annualized dividend and a yield of 1.47%. Simpson Manufacturing’s payout ratio is 44.44%.

In other news, Director James S. Andrasick sold 1,950 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $73.43, for a total transaction of $143,188.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Large investors have recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Simpson Manufacturing by 55.2% during the second quarter. SG Americas Securities LLC now owns 16,937 shares of the construction company’s stock valued at $1,053,000 after acquiring an additional 6,023 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Simpson Manufacturing during the second quarter valued at about $636,000. Vident Investment Advisory LLC raised its stake in shares of Simpson Manufacturing by 68.2% during the second quarter. Vident Investment Advisory LLC now owns 14,590 shares of the construction company’s stock valued at $907,000 after acquiring an additional 5,914 shares during the last quarter. Swiss National Bank raised its stake in shares of Simpson Manufacturing by 5.9% during the second quarter. Swiss National Bank now owns 74,100 shares of the construction company’s stock valued at $4,608,000 after acquiring an additional 4,100 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Simpson Manufacturing during the second quarter valued at about $6,648,000. 89.09% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.

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