Simpson Manufacturing Company, Inc. (NYSE:SSD) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) have received a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $216.25.

Several analysts recently weighed in on SSD shares. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Stifel Nicolaus lifted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Stephens boosted their target price on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research note on Tuesday, July 28th. UBS Group reissued a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Finally, Wall Street Zen downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th.

Simpson Manufacturing Stock Down 0.1%

Shares of SSD opened at $180.75 on Monday. The firm has a 50 day simple moving average of $190.95 and a two-hundred day simple moving average of $187.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. Simpson Manufacturing has a one year low of $156.32 and a one year high of $213.49. The company has a market cap of $7.44 billion, a P/E ratio of 19.75 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The firm had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. During the same quarter last year, the business posted $2.47 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Research analysts forecast that Simpson Manufacturing will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.7%. Simpson Manufacturing’s dividend payout ratio is presently 13.11%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Caitlin John LLC bought a new stake in Simpson Manufacturing during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC raised its position in Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after purchasing an additional 92 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Simpson Manufacturing in the fourth quarter valued at about $32,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Simpson Manufacturing during the third quarter valued at about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Simpson Manufacturing during the first quarter valued at about $37,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Company Profile

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.