Simpson Manufacturing (NYSE:SSD) Sets New 12-Month Low – Here’s What Happened

Simpson Manufacturing Co., Inc. (NYSE:SSD) reached a new 52-week low during trading on Wednesday . The stock traded as low as $149.80 and last traded at $153.58, with a volume of 259408 shares traded. The stock had previously closed at $154.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. DA Davidson reduced their target price on shares of Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird reduced their price objective on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th.

Simpson Manufacturing Trading Down 0.4 %

The stock has a fifty day moving average of $155.17 and a 200-day moving average of $168.66. The company has a market cap of $6.45 billion, a PE ratio of 20.21 and a beta of 1.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 3.21.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, April 28th. The construction company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. The firm had revenue of $538.90 million during the quarter, compared to analyst estimates of $531.81 million. During the same period in the previous year, the firm earned $1.77 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio is presently 14.58%.

Insider Buying and Selling

In other news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the transaction, the executive vice president now owns 8,810 shares of the company’s stock, valued at approximately $1,497,523.80. This represents a 10.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by insiders.

Institutional Trading of Simpson Manufacturing

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Simpson Manufacturing by 42.0% in the 3rd quarter. Barclays PLC now owns 24,179 shares of the construction company’s stock worth $4,624,000 after purchasing an additional 7,155 shares during the period. SkyView Investment Advisors LLC boosted its position in Simpson Manufacturing by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,324 shares of the construction company’s stock valued at $1,783,000 after acquiring an additional 163 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Simpson Manufacturing in the 3rd quarter valued at $30,000. Tidal Investments LLC raised its position in shares of Simpson Manufacturing by 4.8% in the 3rd quarter. Tidal Investments LLC now owns 2,901 shares of the construction company’s stock worth $555,000 after acquiring an additional 133 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Simpson Manufacturing during the 3rd quarter worth $1,652,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.