Simpson Manufacturing Company, Inc. (SSD) Downgraded by BidaskClub to Hold
Simpson Manufacturing Company, Inc. (NYSE:SSD) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
Separately, Zacks Investment Research cut shares of Simpson Manufacturing from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd.
Shares of Simpson Manufacturing (NYSE:SSD) traded up 0.12% on Wednesday, reaching $43.40. 15,827 shares of the company were exchanged. Simpson Manufacturing has a 52 week low of $39.82 and a 52 week high of $48.41. The firm’s 50 day moving average price is $43.80 and its 200 day moving average price is $42.71. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 21.17 and a beta of 1.41.
Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. Simpson Manufacturing had a net margin of 10.78% and a return on equity of 10.26%. The firm had revenue of $263 million during the quarter, compared to analyst estimates of $259.05 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Simpson Manufacturing’s quarterly revenue was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Simpson Manufacturing will post $2.09 EPS for the current year.
In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 106,776 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $43.90, for a total value of $4,687,466.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Psb Fund Simpson sold 53,388 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $43.90, for a total transaction of $2,343,733.20. Following the completion of the transaction, the insider now directly owns 1,351,069 shares in the company, valued at approximately $59,311,929.10. The disclosure for this sale can be found here. Insiders sold 350,999 shares of company stock worth $15,341,008 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Simpson Manufacturing by 155,956.1% in the first quarter. BlackRock Inc. now owns 5,212,273 shares of the construction company’s stock worth $224,596,000 after buying an additional 5,208,933 shares during the last quarter. Janus Henderson Group PLC bought a new position in Simpson Manufacturing during the second quarter worth approximately $72,714,000. Wells Fargo & Company MN boosted its position in Simpson Manufacturing by 46.1% in the first quarter. Wells Fargo & Company MN now owns 1,470,632 shares of the construction company’s stock worth $63,369,000 after buying an additional 464,356 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Simpson Manufacturing during the second quarter worth approximately $18,828,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Simpson Manufacturing during the second quarter worth approximately $17,521,000. 84.90% of the stock is currently owned by institutional investors.
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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