Key Points
- CEO Michael Olosky sold 3,502 Simpson Manufacturing shares at an average price of $172.84, totaling $605,285.68. His remaining 51,398 shares are valued at approximately $8.88 million, representing a 6.38% reduction in ownership.
- Simpson Manufacturing reported quarterly EPS of $3.09, beating estimates of $2.72, while revenue rose 6.3% year over year to $671.08 million. The company also declared a quarterly dividend of $0.30 per share, yielding approximately 0.7%.
- Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $216.25. Institutional investors own 93.68% of the company’s stock.
Simpson Manufacturing Company, Inc. (NYSE:SSD - Get Free Report) CEO Michael Olosky sold 3,502 shares of the company's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the transaction, the chief executive officer owned 51,398 shares of the company's stock, valued at approximately $8,883,630.32. The trade was a 6.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Simpson Manufacturing Price Performance
Shares of NYSE SSD opened at $173.33 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. The firm has a market capitalization of $7.13 billion, a PE ratio of 18.94 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The business's fifty day moving average price is $188.14 and its two-hundred day moving average price is $186.55.
Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.37. The company had revenue of $671.08 million during the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 earnings per share. On average, research analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.
Simpson Manufacturing Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.7%. Simpson Manufacturing's dividend payout ratio (DPR) is currently 13.11%.
Analyst Upgrades and Downgrades
SSD has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Weiss Ratings raised Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Stephens boosted their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a "cautious" rating in a research report on Tuesday, July 28th. Wall Street Zen lowered Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $216.25.
Get Our Latest Stock Analysis on SSD
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in Simpson Manufacturing by 51.3% in the first quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock worth $798,000 after purchasing an additional 1,726 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Simpson Manufacturing by 11.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock valued at $427,000 after purchasing an additional 286 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Simpson Manufacturing in the 1st quarter worth $531,000. Goldman Sachs Group Inc. raised its stake in shares of Simpson Manufacturing by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock worth $33,327,000 after buying an additional 64,114 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Simpson Manufacturing by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company's stock valued at $19,022,000 after buying an additional 12,865 shares during the period. Institutional investors and hedge funds own 93.68% of the company's stock.
About Simpson Manufacturing
(
Get Free Report)
Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.
The company's product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.
Further Reading
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