Simpson Manufacturing Company, Inc. (NYSE:SSD) Given Average Recommendation of “Moderate Buy” by Analysts

Simpson Manufacturing Company, Inc. (NYSE:SSD) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $214.75.

A number of research analysts recently weighed in on SSD shares. Stifel Nicolaus boosted their target price on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird boosted their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. DA Davidson boosted their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th.

Simpson Manufacturing Stock Up 0.3%

NYSE:SSD opened at $185.26 on Friday. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 21.72 and a beta of 1.34. Simpson Manufacturing has a twelve month low of $151.38 and a twelve month high of $211.98. The stock’s 50 day moving average price is $178.78 and its two-hundred day moving average price is $178.28. 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 (NYSE:SSD) last posted its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. The business had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 EPS. Equities research analysts expect that Simpson Manufacturing will post 9.18 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

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

Institutional Trading of Simpson Manufacturing

Several institutional investors have recently added to or reduced their stakes in SSD. Bank of Montreal Can lifted its position in shares of Simpson Manufacturing by 11,044.7% during the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock valued at $109,556,000 after acquiring an additional 672,402 shares during the period. Norges Bank bought a new stake in shares of Simpson Manufacturing during the 4th quarter valued at $85,140,000. Victory Capital Management Inc. lifted its position in shares of Simpson Manufacturing by 6,234.7% during the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock valued at $64,257,000 after acquiring an additional 391,665 shares during the period. Capital International Investors lifted its position in shares of Simpson Manufacturing by 93.7% during the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock valued at $107,086,000 after acquiring an additional 320,870 shares during the period. Finally, ValueAct Holdings L.P. lifted its position in shares of Simpson Manufacturing by 21.9% during the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after acquiring an additional 264,200 shares during the period. 93.68% of the stock is currently owned by institutional investors.

About Simpson Manufacturing

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.