Simpson Manufacturing Company, Inc. (SSD) Expected to Announce Quarterly Sales of $266.40 Million
Wall Street brokerages predict that Simpson Manufacturing Company, Inc. (NYSE:SSD) will post sales of $266.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Simpson Manufacturing’s earnings, with the lowest sales estimate coming in at $264.71 million and the highest estimate coming in at $268.10 million. Simpson Manufacturing reported sales of $230.97 million in the same quarter last year, which indicates a positive year over year growth rate of 15.3%. The firm is scheduled to announce its next earnings results on Thursday, October 26th.
On average, analysts expect that Simpson Manufacturing will report full year sales of $266.40 million for the current year, with estimates ranging from $966.14 million to $982.50 million. For the next financial year, analysts anticipate that the business will post sales of $1.06 billion per share, with estimates ranging from $1.05 billion to $1.07 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Simpson Manufacturing.
Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Thursday, July 27th. The construction company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. Simpson Manufacturing had a net margin of 10.78% and a return on equity of 10.26%. The company had revenue of $263 million during the quarter, compared to the consensus estimate of $259.05 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis.
Several equities analysts have weighed in on SSD shares. Zacks Investment Research upgraded Simpson Manufacturing from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded Simpson Manufacturing from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th.
Shares of Simpson Manufacturing (NYSE:SSD) traded up 0.39% on Friday, reaching $43.95. 89,325 shares of the company were exchanged. Simpson Manufacturing has a 12 month low of $39.82 and a 12 month high of $48.41. The company’s 50-day moving average price is $43.59 and its 200 day moving average price is $42.67. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 21.44 and a beta of 1.41.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Thursday, October 5th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, October 4th. Simpson Manufacturing’s dividend payout ratio is currently 40.98%.
In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 106,776 shares of Simpson Manufacturing stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $43.90, for a total transaction of $4,687,466.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Psb Fund Simpson sold 33,581 shares of Simpson Manufacturing stock in a transaction on Monday, June 19th. The shares were sold at an average price of $43.62, for a total value of $1,464,803.22. Following the sale, the insider now directly 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. Insiders have sold a total of 350,999 shares of company stock valued at $15,341,008 over the last three months. 0.36% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Simpson Manufacturing by 155,956.1% in the first quarter. BlackRock Inc. now owns 5,212,273 shares of the construction company’s stock valued at $224,596,000 after buying an additional 5,208,933 shares during the last quarter. Janus Henderson Group PLC bought a new position in Simpson Manufacturing during the second quarter valued at approximately $72,714,000. Wells Fargo & Company MN raised its position in Simpson Manufacturing by 46.1% in the first quarter. Wells Fargo & Company MN now owns 1,470,632 shares of the construction company’s stock valued at $63,369,000 after buying an additional 464,356 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Simpson Manufacturing during the second quarter valued at approximately $18,828,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Simpson Manufacturing during the second quarter valued at approximately $17,521,000. 83.76% of the stock is owned by hedge funds and other institutional investors.
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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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