Simpson Manufacturing Company, Inc. (NYSE:SSD) Receives Average Rating of “Moderate Buy” from Brokerages

Simpson Manufacturing Company, Inc. (NYSE:SSD) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $214.75.

SSD has been the subject of several recent research reports. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Stephens lifted their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Stifel Nicolaus lifted their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Robert W. Baird lifted their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th.

Simpson Manufacturing Stock Performance

Shares of Simpson Manufacturing stock opened at $195.38 on Wednesday. The stock has a market cap of $8.04 billion, a PE ratio of 22.91 and a beta of 1.32. The business has a fifty day simple moving average of $184.73 and a 200-day simple moving average of $181.22. 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 has a 12 month low of $151.38 and a 12 month high of $211.98.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data 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 business had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. During the same period last year, the company earned $1.85 earnings per share. Simpson Manufacturing’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Simpson Manufacturing will post 9.17 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

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

Institutional Investors Weigh In On Simpson Manufacturing

A number of institutional investors have recently added to or reduced their stakes in SSD. EverSource Wealth Advisors LLC boosted its holdings in Simpson Manufacturing by 135.3% during 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 in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Simpson Manufacturing by 322.5% during the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after purchasing an additional 129 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Simpson Manufacturing during the fourth quarter valued at approximately $28,000. Los Angeles Capital Management LLC acquired a new stake in Simpson Manufacturing during the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Simpson Manufacturing during the third quarter valued at approximately $34,000. 93.68% of the stock is 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.