Simpson Manufacturing (NYSE:SSD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other research firms have also weighed in on SSD. DA Davidson lifted their price objective on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Stephens set a $200.00 target price on shares of Simpson Manufacturing in a research note on Tuesday, February 10th. Robert W. Baird set a $222.00 price target on shares of Simpson Manufacturing in a report on Tuesday, February 10th. Finally, Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.33.

Simpson Manufacturing Stock Down 0.4%

Shares of NYSE:SSD opened at $192.70 on Friday. Simpson Manufacturing has a 1 year low of $137.35 and a 1 year high of $211.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.54 and a quick ratio of 1.99. The business’s 50-day moving average is $184.70 and its 200-day moving average is $178.82. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 23.36 and a beta of 1.35.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.The business had revenue of $539.35 million during the quarter, compared to analysts’ expectations of $530.70 million. During the same quarter last year, the firm posted $1.31 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that Simpson Manufacturing will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, April 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.06%.

Insider Activity

In other news, Director Philip E. Donaldson sold 2,375 shares of Simpson Manufacturing stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $168.16, for a total transaction of $399,380.00. Following the completion of the transaction, the director directly owned 6,086 shares in the company, valued at $1,023,421.76. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Simpson Manufacturing by 11,044.7% in the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after buying an additional 672,402 shares during the last quarter. Norges Bank bought a new stake in shares of Simpson Manufacturing in the 4th quarter worth approximately $85,140,000. Victory Capital Management Inc. lifted its stake in Simpson Manufacturing by 6,234.7% in the fourth quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock valued at $64,257,000 after purchasing an additional 391,665 shares during the last quarter. Capital International Investors lifted its stake in Simpson Manufacturing by 93.7% in the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock valued at $107,086,000 after purchasing an additional 320,870 shares during the last quarter. Finally, ValueAct Holdings L.P. grew its holdings in Simpson Manufacturing by 21.9% during the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after purchasing an additional 264,200 shares during the period. 93.68% of the stock is owned by institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.