Simpson Manufacturing (NYSE:SSD) Upgraded by Wall Street Zen to “Buy” Rating

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.

SSD has been the subject of a number of other reports. DA Davidson upped their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Stephens upped their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Robert W. Baird upped their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings cut Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 2nd. Finally, Stifel Nicolaus upped their target price on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $214.75.

Simpson Manufacturing Stock Down 2.1%

Shares of NYSE SSD opened at $188.47 on Friday. The stock has a market cap of $7.76 billion, a PE ratio of 22.10 and a beta of 1.34. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. Simpson Manufacturing has a 52-week low of $151.38 and a 52-week high of $211.98. The business has a 50-day moving average price of $179.84 and a 200 day moving average price of $177.78.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.29. The firm had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 EPS. Equities research analysts forecast that Simpson Manufacturing will post 9.18 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.20 annualized dividend and a yield of 0.6%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.60%.

Institutional Trading of Simpson Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSD. EverSource Wealth Advisors LLC raised its stake in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after acquiring an additional 92 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Simpson Manufacturing by 322.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after acquiring an additional 129 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Simpson Manufacturing during the 4th quarter valued at approximately $28,000. Los Angeles Capital Management LLC purchased a new stake in Simpson Manufacturing during the 4th quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Simpson Manufacturing during the 3rd quarter valued at approximately $34,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Company Profile

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.