Simpson Manufacturing Company, Inc. (SSD) Expected to Post Quarterly Sales of $266.40 Million
Brokerages expect Simpson Manufacturing Company, Inc. (NYSE:SSD) to report sales of $266.40 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Simpson Manufacturing’s earnings, with the highest sales estimate coming in at $268.10 million and the lowest estimate coming in at $264.71 million. Simpson Manufacturing reported sales of $230.97 million in the same quarter last year, which suggests a positive year over year growth rate of 15.3%. The firm is scheduled to report its next quarterly earnings report 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 fiscal year, analysts forecast 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 a mean average based on a survey of research firms that follow Simpson Manufacturing.
Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the 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 $263.00 million for the quarter, compared to the consensus estimate of $259.05 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year.
Several equities analysts have recently weighed in on SSD shares. Zacks Investment Research upgraded shares of Simpson Manufacturing from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Simpson Manufacturing from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th.
Shares of Simpson Manufacturing (NYSE SSD) opened at 49.39 on Monday. The firm has a 50 day moving average of $46.06 and a 200 day moving average of $43.40. Simpson Manufacturing has a one year low of $39.82 and a one year high of $50.10. The stock has a market cap of $2.33 billion, a P/E ratio of 24.09 and a beta of 1.40.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Thursday, October 5th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, October 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.70%. Simpson Manufacturing’s dividend payout ratio (DPR) is 40.98%.
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In other Simpson Manufacturing news, insider Psb Fund Simpson sold 72,424 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $49.23, for a total value of $3,565,433.52. Following the completion of the transaction, the insider now directly owns 1,266,213 shares in the company, valued at $62,335,665.99. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 240,170 shares of company stock valued at $14,545,522,661. Corporate insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Simpson Manufacturing by 155,956.1% in the first quarter. BlackRock Inc. now owns 5,212,273 shares of the construction company’s stock worth $224,596,000 after buying an additional 5,208,933 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Simpson Manufacturing in the second quarter worth about $6,285,000. Comerica Bank boosted its holdings in shares of Simpson Manufacturing by 81.8% in the second quarter. Comerica Bank now owns 82,300 shares of the construction company’s stock worth $3,604,000 after buying an additional 37,030 shares during the period. Bank of America Corp DE boosted its holdings in shares of Simpson Manufacturing by 85.8% in the first quarter. Bank of America Corp DE now owns 241,794 shares of the construction company’s stock worth $10,419,000 after buying an additional 111,672 shares during the period. Finally, Whittier Trust Co. boosted its holdings in shares of Simpson Manufacturing by 2.5% in the second quarter. Whittier Trust Co. now owns 35,123 shares of the construction company’s stock worth $1,535,000 after buying an additional 868 shares during the period. Institutional investors own 83.63% of the company’s stock.
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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