Simpson Manufacturing Company, Inc. (NYSE:SSD) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation. Simpson Manufacturing’s rating score has improved by 66.7% from 90 days ago as a result of various analysts’ ratings changes.

Analysts have set a 12 month consensus target price of $59.00 for the company and are anticipating that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also given Simpson Manufacturing an industry rank of 181 out of 265 based on the ratings given to its competitors.

A number of equities research analysts have recently issued reports on SSD shares. Zacks Investment Research lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. DA Davidson raised shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a report on Tuesday. Robert W. Baird reaffirmed a “hold” rating and set a $46.00 target price on shares of Simpson Manufacturing in a report on Friday, October 20th. Finally, BidaskClub lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th.

In other news, major shareholder Sharon H. Simpson sold 72,424 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $200,724.00, for a total transaction of $14,537,234,976.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Sharon H. Simpson sold 11,962 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $49.05, for a total transaction of $586,736.10. Following the transaction, the insider now directly owns 769,504 shares in the company, valued at approximately $37,744,171.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 966,062 shares of company stock worth $14,581,567,733. Corporate insiders own 0.36% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Pinebridge Investments L.P. boosted its position in shares of Simpson Manufacturing by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,337 shares of the construction company’s stock valued at $233,000 after acquiring an additional 53 shares during the last quarter. Granite Investment Partners LLC boosted its position in shares of Simpson Manufacturing by 0.4% during the 2nd quarter. Granite Investment Partners LLC now owns 24,658 shares of the construction company’s stock valued at $1,078,000 after acquiring an additional 94 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Simpson Manufacturing by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 21,164 shares of the construction company’s stock valued at $925,000 after acquiring an additional 100 shares during the last quarter. Amalgamated Bank boosted its position in shares of Simpson Manufacturing by 2.0% during the 2nd quarter. Amalgamated Bank now owns 5,591 shares of the construction company’s stock valued at $244,000 after acquiring an additional 112 shares during the last quarter. Finally, Wrapmanager Inc. boosted its position in shares of Simpson Manufacturing by 3.5% during the 2nd quarter. Wrapmanager Inc. now owns 5,310 shares of the construction company’s stock valued at $232,000 after acquiring an additional 181 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

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Simpson Manufacturing (SSD) traded up $1.44 during trading on Wednesday, reaching $59.02. The company’s stock had a trading volume of 303,287 shares, compared to its average volume of 234,843. Simpson Manufacturing has a 12 month low of $39.82 and a 12 month high of $59.71. The firm has a market capitalization of $2.79 billion, a P/E ratio of 31.73, a P/E/G ratio of 6.23 and a beta of 1.50.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Wednesday, January 3rd. Simpson Manufacturing’s payout ratio is 41.38%.

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

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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