Simpson Manufacturing (NYSE:SSD) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a buy rating in a report released on Friday morning, ValuEngine reports.

Other research analysts have also recently issued reports about the company. Sidoti cut Simpson Manufacturing from a buy rating to a neutral rating and reduced their price objective for the stock from $72.00 to $60.00 in a research note on Tuesday, July 30th. Zacks Investment Research cut Simpson Manufacturing from a hold rating to a sell rating in a research note on Tuesday, July 30th.

Shares of NYSE:SSD traded up $0.89 during trading on Friday, hitting $63.39. The stock had a trading volume of 155,500 shares, compared to its average volume of 319,862. Simpson Manufacturing has a 12-month low of $49.54 and a 12-month high of $78.36. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 4.55 and a beta of 1.42. The stock has a 50-day simple moving average of $64.26 and a two-hundred day simple moving average of $62.61.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, July 29th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.14). Simpson Manufacturing had a return on equity of 14.69% and a net margin of 11.21%. The firm had revenue of $304.90 million during the quarter, compared to analysts’ expectations of $323.71 million. During the same quarter in the previous year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts anticipate that Simpson Manufacturing will post 2.73 earnings per share for the current year.

In related news, Director Greenway Robin Macgillivray sold 1,475 shares of Simpson Manufacturing stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $61.56, for a total transaction of $90,801.00. Following the completion of the transaction, the director now directly owns 12,470 shares in the company, valued at $767,653.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP lifted its holdings in shares of Simpson Manufacturing by 89.7% in the fourth quarter. Two Sigma Advisers LP now owns 6,000 shares of the construction company’s stock worth $325,000 after buying an additional 2,837 shares in the last quarter. Norges Bank purchased a new stake in shares of Simpson Manufacturing in the fourth quarter worth about $26,408,000. Geode Capital Management LLC lifted its holdings in shares of Simpson Manufacturing by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 432,946 shares of the construction company’s stock worth $23,435,000 after buying an additional 33,498 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Simpson Manufacturing by 0.7% in the first quarter. Conestoga Capital Advisors LLC now owns 1,646,072 shares of the construction company’s stock worth $97,563,000 after buying an additional 12,052 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Simpson Manufacturing by 6.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 40,572 shares of the construction company’s stock worth $2,405,000 after buying an additional 2,400 shares in the last quarter. Institutional investors own 89.75% of the company’s stock.

About Simpson Manufacturing

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, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, 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, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.

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