DA Davidson upgraded shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) from a neutral rating to a buy rating in a research report sent to investors on Tuesday. DA Davidson also issued estimates for Simpson Manufacturing’s FY2017 earnings at $1.89 EPS, Q1 2018 earnings at $0.52 EPS, Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.53 EPS, FY2018 earnings at $2.61 EPS and FY2019 earnings at $3.19 EPS.

Several other equities analysts have also commented on SSD. Zacks Investment Research raised Simpson Manufacturing from a sell rating to a hold rating in a report on Tuesday, July 4th. BidaskClub lowered Simpson Manufacturing from a buy rating to a hold rating in a report on Wednesday, August 16th. Finally, Robert W. Baird reaffirmed a hold rating and set a $46.00 price objective on shares of Simpson Manufacturing in a report on Friday, October 20th.

Simpson Manufacturing (NYSE:SSD) opened at $59.02 on Tuesday. The firm has a market cap of $2,759.82, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 6.23 and a beta of 1.49.

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The company 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. This represents a $0.84 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Wednesday, January 3rd. Simpson Manufacturing’s payout ratio is 41.58%.

Simpson Manufacturing declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 2nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 29,593 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $49.20, for a total transaction of $1,455,975.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Psb Fund Simpson sold 72,424 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $49.23, for a total value of $3,565,433.52. Following the transaction, the insider now directly owns 1,266,213 shares in the company, valued at approximately $62,335,665.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 966,062 shares of company stock worth $14,581,567,733. Corporate insiders own 0.36% of the company’s stock.

Hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Simpson Manufacturing by 155,956.1% during the first quarter. BlackRock Inc. now owns 5,212,273 shares of the construction company’s stock worth $224,596,000 after purchasing an additional 5,208,933 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Simpson Manufacturing during the second quarter worth about $6,285,000. Comerica Bank boosted its stake in shares of Simpson Manufacturing by 81.8% during the second quarter. Comerica Bank now owns 82,300 shares of the construction company’s stock worth $3,604,000 after buying an additional 37,030 shares during the period. Bank of America Corp DE boosted its stake in shares of Simpson Manufacturing by 85.8% during the first quarter. Bank of America Corp DE now owns 241,794 shares of the construction company’s stock worth $10,419,000 after buying an additional 111,672 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Simpson Manufacturing by 10.4% during the second quarter. Wells Fargo & Company MN now owns 1,623,796 shares of the construction company’s stock worth $70,977,000 after buying an additional 153,164 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Simpson Manufacturing Company Profile

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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