Simpson Manufacturing (SSD) Earns Buy Rating from Robert W. Baird
Robert W. Baird reiterated their buy rating on shares of Simpson Manufacturing (NYSE:SSD) in a research note released on Tuesday. The brokerage currently has a $64.00 target price on the construction company’s stock.
A number of other equities analysts also recently issued reports on SSD. Sidoti assumed coverage on Simpson Manufacturing in a report on Wednesday, January 3rd. They issued a neutral rating and a $66.00 price target for the company. DA Davidson downgraded Simpson Manufacturing from a buy rating to a neutral rating and set a $60.00 price target for the company. in a report on Thursday, December 14th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $60.00.
Shares of Simpson Manufacturing (NYSE SSD) traded down $0.09 on Tuesday, reaching $57.78. The company had a trading volume of 241,664 shares, compared to its average volume of 216,455. The firm has a market capitalization of $2,730.00, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 4.63 and a beta of 1.53. Simpson Manufacturing has a 52-week low of $39.82 and a 52-week high of $61.62.
In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 32,079 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $49.12, for a total value of $1,575,720.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Roger Dankel sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $59.01, for a total value of $76,713.00. Following the completion of the sale, the insider now owns 60 shares of the company’s stock, valued at approximately $3,540.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 867,321 shares of company stock valued at $45,176,330. 0.36% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SSD. Macquarie Group Ltd. purchased a new stake in shares of Simpson Manufacturing during the third quarter worth approximately $103,000. Riverhead Capital Management LLC raised its stake in shares of Simpson Manufacturing by 62.3% during the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the construction company’s stock worth $114,000 after purchasing an additional 996 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Simpson Manufacturing during the second quarter worth approximately $148,000. Verity Asset Management Inc. purchased a new stake in shares of Simpson Manufacturing during the second quarter worth approximately $205,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Simpson Manufacturing during the third quarter worth approximately $230,000. Institutional investors own 84.49% of the company’s stock.
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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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