Analysts Set $45.33 Price Target for Simpson Manufacturing Company, Inc. (SSD)

Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) have been given a consensus broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating.

Brokerages have set a 12 month consensus price target of $45.33 for the company and are expecting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Simpson Manufacturing an industry rank of 79 out of 265 based on the ratings given to related companies.

Several equities research analysts have recently weighed in on SSD shares. Zacks Investment Research raised Simpson Manufacturing from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th. BidaskClub raised Simpson Manufacturing from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th.

Shares of Simpson Manufacturing (SSD) opened at 44.27 on Monday. The stock has a 50 day moving average price of $43.03 and a 200 day moving average price of $42.71. Simpson Manufacturing has a 12 month low of $39.45 and a 12 month high of $48.41. The stock has a market capitalization of $2.11 billion, a P/E ratio of 22.12 and a beta of 1.40.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Thursday, April 27th. The construction company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.05. The company had revenue of $219.87 million for the quarter, compared to the consensus estimate of $210.66 million. Simpson Manufacturing had a return on equity of 10.08% and a net margin of 10.95%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. On average, analysts anticipate that Simpson Manufacturing will post $2.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 27th. Stockholders of record on Thursday, July 6th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, July 3rd. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.18. Simpson Manufacturing’s dividend payout ratio (DPR) is 42.00%.

In related news, major shareholder Sharon H. Simpson sold 67,163 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $43.62, for a total transaction of $2,929,650.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Psb Fund Simpson sold 33,581 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $43.62, for a total value of $1,464,803.22. Following the sale, the insider now owns 1,399,180 shares of the company’s stock, valued at $61,032,231.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 350,999 shares of company stock valued at $15,341,008. 0.36% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Guggenheim Capital LLC raised its stake in shares of Simpson Manufacturing by 349.0% in the fourth quarter. Guggenheim Capital LLC now owns 22,244 shares of the construction company’s stock valued at $973,000 after buying an additional 17,290 shares in the last quarter. State of Alaska Department of Revenue raised 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 valued at $192,000 after buying an additional 90 shares during the period. Trexquant Investment LP raised its position in Simpson Manufacturing by 96.2% in the first quarter. Trexquant Investment LP now owns 12,754 shares of the construction company’s stock valued at $550,000 after buying an additional 6,254 shares during the period. FMR LLC raised its position in Simpson Manufacturing by 9.5% in the fourth quarter. FMR LLC now owns 639,934 shares of the construction company’s stock valued at $27,997,000 after buying an additional 55,500 shares during the period. Finally, Stoneridge Investment Partners LLC bought a new position in Simpson Manufacturing during the first quarter valued at $976,000. Institutional investors and hedge funds own 83.62% of the company’s stock.

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About Simpson Manufacturing

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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