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

Simpson Manufacturing Company, Inc. (NYSE:SSD)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $213.49 and last traded at $212.4840, with a volume of 29006 shares trading hands. The stock had previously closed at $206.58.

Analysts Set New Price Targets

SSD has been the subject of a number of research analyst reports. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. DA Davidson increased their target price on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Robert W. Baird lifted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus boosted their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $214.75.

Simpson Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 24.58 and a beta of 1.32. The stock has a 50 day moving average price of $187.79 and a two-hundred day moving average price of $182.50.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The firm had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same quarter in the prior year, the company earned $1.85 EPS. Simpson Manufacturing’s revenue was up 9.1% on a year-over-year basis. As a group, analysts expect that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current year.

Simpson Manufacturing Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSD. EverSource Wealth Advisors LLC boosted its position in Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after buying an additional 92 shares during the period. V Square Quantitative Management LLC acquired a new position in Simpson Manufacturing during the 4th quarter worth $28,000. Los Angeles Capital Management LLC purchased a new stake in Simpson Manufacturing during the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. acquired a new stake in Simpson Manufacturing in the 3rd quarter valued at about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Simpson Manufacturing in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

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.