Simpson Manufacturing Company, Inc. (NYSE:SSD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) have earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $214.75.

Several analysts have commented on SSD shares. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Stephens upped their target price on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Stifel Nicolaus boosted their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th.

Simpson Manufacturing Stock Performance

SSD stock opened at $195.38 on Wednesday. The company has a 50 day moving average price of $184.73 and a 200 day moving average price of $181.22. The stock has a market capitalization of $8.04 billion, a PE ratio of 22.91 and a beta of 1.32. Simpson Manufacturing has a fifty-two week low of $151.38 and a fifty-two week high of $211.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.84 by $0.29. The company had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. Analysts forecast that Simpson Manufacturing will post 9.17 EPS for the current year.

Simpson Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a $0.30 dividend. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 13.60%.

Hedge Funds Weigh In On Simpson Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in the company. Argent Capital Management LLC grew its holdings in shares of Simpson Manufacturing by 31.5% in the 1st quarter. Argent Capital Management LLC now owns 79,773 shares of the construction company’s stock valued at $13,691,000 after buying an additional 19,097 shares during the period. Bank of America Corp DE boosted its stake in Simpson Manufacturing by 4.0% in the 1st quarter. Bank of America Corp DE now owns 291,314 shares of the construction company’s stock worth $49,995,000 after purchasing an additional 11,272 shares during the period. Edgestream Partners L.P. acquired a new position in Simpson Manufacturing in the 1st quarter worth $2,239,000. Janus Henderson Group PLC boosted its stake in Simpson Manufacturing by 1.5% in the 1st quarter. Janus Henderson Group PLC now owns 18,566 shares of the construction company’s stock worth $3,184,000 after purchasing an additional 271 shares during the period. Finally, Amundi boosted its stake in Simpson Manufacturing by 124.1% in the 1st quarter. Amundi now owns 3,679 shares of the construction company’s stock worth $631,000 after purchasing an additional 2,037 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.

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.