Brokerages predict that Simpson Manufacturing Company, Inc. (NYSE:SSD) will report $0.40 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Simpson Manufacturing’s earnings. The highest EPS estimate is $0.41 and the lowest is $0.38. Simpson Manufacturing posted earnings per share of $0.36 in the same quarter last year, which would suggest a positive year over year growth rate of 11.1%. The business is expected to announce its next earnings report on Thursday, February 1st.
On average, analysts expect that Simpson Manufacturing will report full-year earnings of $2.07 per share for the current year, with EPS estimates ranging from $2.04 to $2.09. For the next fiscal year, analysts anticipate that the company will post earnings of $2.51 per share, with EPS estimates ranging from $2.40 to $2.61. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Simpson Manufacturing.
Several research firms have recently issued reports on SSD. DA Davidson raised shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 31st. Robert W. Baird raised shares of Simpson Manufacturing from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $58.00 in a research report on Tuesday, October 31st. Zacks Investment Research cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.
Simpson Manufacturing announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.47%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 41.38%.
In related news, major shareholder Sharon H. Simpson sold 29,593 shares of the business’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $49.20, for a total value of $1,455,975.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Psb Fund Simpson sold 72,424 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.23, for a total transaction of $3,565,433.52. Following the completion of the sale, the insider now directly owns 1,266,213 shares of the company’s stock, valued at $62,335,665.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 966,062 shares of company stock valued at $14,581,567,733. 0.36% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. purchased a new stake in Simpson Manufacturing in the second quarter valued at $6,285,000. Comerica Bank lifted its position in Simpson Manufacturing by 81.8% in the second quarter. Comerica Bank now owns 82,300 shares of the construction company’s stock valued at $3,604,000 after acquiring an additional 37,030 shares during the last quarter. Bank of America Corp DE lifted its position in 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 valued at $10,419,000 after acquiring an additional 111,672 shares during the last quarter. Wells Fargo & Company MN lifted its position in Simpson Manufacturing by 10.4% in the second quarter. Wells Fargo & Company MN now owns 1,623,796 shares of the construction company’s stock valued at $70,977,000 after acquiring an additional 153,164 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Simpson Manufacturing by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,750,714 shares of the construction company’s stock valued at $76,524,000 after acquiring an additional 7,080 shares during the last quarter. 84.30% of the stock is owned by hedge funds and other institutional investors.
Simpson Manufacturing Company Profile
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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