Brokerages Expect Simpson Manufacturing Co, Inc. (SSD) Will Announce Quarterly Sales of $225.48 Million
Analysts expect Simpson Manufacturing Co, Inc. (NYSE:SSD) to post $225.48 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Simpson Manufacturing’s earnings. The lowest sales estimate is $218.56 million and the highest is $232.40 million. Simpson Manufacturing posted sales of $200.19 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.6%. The business is expected to announce its next earnings results on Thursday, February 1st.
On average, analysts expect that Simpson Manufacturing will report full-year sales of $225.48 million for the current fiscal year, with estimates ranging from $963.91 million to $977.80 million. For the next year, analysts expect that the firm will post sales of $1.04 billion per share, with estimates ranging from $1.04 billion to $1.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Simpson Manufacturing.
A number of equities analysts recently issued reports on the stock. DA Davidson upgraded shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 31st. Robert W. Baird reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Simpson Manufacturing in a research note on Friday, October 20th. Finally, Sidoti started coverage on shares of Simpson Manufacturing in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $58.50.
Simpson Manufacturing (NYSE SSD) opened at $58.07 on Tuesday. Simpson Manufacturing has a 12-month low of $39.82 and a 12-month high of $61.62. The company has a market cap of $2,750.00, a PE ratio of 28.61, a PEG ratio of 4.63 and a beta of 1.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Thursday, January 4th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, January 3rd. This represents a $0.84 annualized dividend and a yield of 1.45%. Simpson Manufacturing’s payout ratio is 41.38%.
In other news, insider Psb Fund Simpson sold 83,605 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $49.17, for a total value of $4,110,857.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sharon H. Simpson sold 29,593 shares of the stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $49.20, for a total transaction of $1,455,975.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 840,385 shares of company stock worth $43,359,570. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds have recently made changes to their positions in SSD. Schwab Charles Investment Management Inc. raised its holdings in shares of Simpson Manufacturing by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 251,285 shares of the construction company’s stock valued at $10,984,000 after purchasing an additional 16,729 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Simpson Manufacturing by 2.5% in the second quarter. First Trust Advisors LP now owns 27,356 shares of the construction company’s stock valued at $1,196,000 after purchasing an additional 676 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Simpson Manufacturing in the second quarter valued at about $148,000. Legal & General Group Plc grew its position in Simpson Manufacturing by 10.4% during the second quarter. Legal & General Group Plc now owns 79,671 shares of the construction company’s stock valued at $3,482,000 after buying an additional 7,514 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in Simpson Manufacturing by 49.7% during the second quarter. BNP Paribas Arbitrage SA now owns 13,665 shares of the construction company’s stock valued at $597,000 after buying an additional 4,537 shares during the period. Institutional investors own 84.49% of the company’s stock.
About Simpson Manufacturing
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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