Simpson Manufacturing (NYSE:SSD) Posts Earnings Results, Beats Expectations By $0.23 EPS

Simpson Manufacturing (NYSE:SSD) released its quarterly earnings results on Monday. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.45 by $0.23, FiscalAI reports. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The firm had revenue of $638.13 million for the quarter, compared to analyst estimates of $625.39 million.

Simpson Manufacturing Trading Down 1.1%

Shares of Simpson Manufacturing stock traded down $1.95 on Monday, reaching $182.41. The company had a trading volume of 601,052 shares, compared to its average volume of 292,975. The firm’s 50 day moving average price is $177.93 and its two-hundred day moving average price is $185.59. The firm has a market cap of $7.50 billion, a PE ratio of 19.94 and a beta of 1.32. Simpson Manufacturing has a 52-week low of $156.32 and a 52-week high of $213.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 28th. Shareholders of record on Thursday, January 7th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, January 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.11%.

Insider Activity at Simpson Manufacturing

In related news, CEO Michael Olosky sold 3,502 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total transaction of $605,285.68. Following the completion of the transaction, the chief executive officer owned 51,398 shares of the company’s stock, valued at approximately $8,883,630.32. This trade represents a 6.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SSD. Stifel Nicolaus lowered their price objective on Simpson Manufacturing from $218.00 to $210.00 and set a “buy” rating for the company in a research report on Monday. Stephens raised their target price on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research note on Tuesday, July 28th. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Simpson Manufacturing in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Simpson Manufacturing has an average rating of “Hold” and a consensus price target of $214.25.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc develops, manufactures and sells structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications ranging from new construction to repair, remodeling and retrofit projects.

The company is best known for its Simpson Strong-Tie brand, which offers structural connectors, fasteners, anchors, specialty products, adhesives and related installation systems.