Simpson Manufacturing (NYSE:SSD) Announces Earnings Results

Simpson Manufacturing (NYSE:SSD) issued its quarterly earnings data on Monday. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.45 by $0.23, FiscalAI reports. The company had revenue of $638.13 million for the quarter, compared to analyst estimates of $625.39 million. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%. During the same period last year, the company earned $2.58 earnings per share.

Simpson Manufacturing Trading Down 1.1%

SSD stock traded down $1.95 during mid-day trading on Monday, hitting $182.41. 601,052 shares of the company were exchanged, compared to its average volume of 292,975. Simpson Manufacturing has a 12-month low of $156.32 and a 12-month high of $213.49. The firm has a market capitalization of $7.50 billion, a P/E ratio of 19.94 and a beta of 1.32. The business has a fifty day simple moving average of $177.93 and a 200-day simple moving average of $185.59. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing Dividend Announcement

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

Insider Activity

In related news, CEO Michael Olosky sold 3,502 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the sale, the chief executive officer owned 51,398 shares in the company, valued at approximately $8,883,630.32. The trade was a 6.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

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

Simpson Manufacturing Company Profile

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.