Zacks: Brokerages Set $59.00 Target Price for Simpson Manufacturing Co, Inc. (SSD)
Simpson Manufacturing Co, Inc. (NYSE:SSD) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating. Simpson Manufacturing’s rating score has improved by 66.7% in the last 90 days as a result of various analysts’ ratings changes.
Analysts have set a 1 year consensus price target of $59.00 for the company and are forecasting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also assigned Simpson Manufacturing an industry rank of 91 out of 265 based on the ratings given to its competitors.
A number of equities analysts recently weighed in on SSD shares. Robert W. Baird restated a “hold” rating and issued a $46.00 price objective on shares of Simpson Manufacturing in a report on Friday, October 20th. DA Davidson upgraded shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st.
In related news, insider Psb Fund Simpson sold 72,424 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $49.23, for a total value of $3,565,433.52. Following the completion of the transaction, the insider now directly owns 1,266,213 shares in the company, valued at approximately $62,335,665.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Sharon H. Simpson sold 29,593 shares of Simpson Manufacturing stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $49.20, for a total transaction of $1,455,975.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 988,721 shares of company stock valued at $14,582,940,671. 0.36% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of SSD. Macquarie Group Ltd. bought a new stake in Simpson Manufacturing in the 3rd quarter worth approximately $103,000. Riverhead Capital Management LLC grew its position in Simpson Manufacturing by 62.3% in the 2nd 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 period. SG Americas Securities LLC bought a new stake in Simpson Manufacturing in the 2nd quarter worth approximately $148,000. Verity Asset Management Inc. bought a new stake in Simpson Manufacturing in the 2nd quarter worth approximately $205,000. Finally, Neuberger Berman Group LLC bought a new stake in Simpson Manufacturing in the 3rd quarter worth approximately $230,000. 84.57% of the stock is owned by institutional investors and hedge funds.
Simpson Manufacturing (NYSE:SSD) opened at $57.49 on Friday. Simpson Manufacturing has a 1-year low of $39.82 and a 1-year high of $61.62. The firm has a market cap of $2,666.60, a P/E ratio of 30.63, a P/E/G ratio of 6.01 and a beta of 1.52.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 4th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, January 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.46%. Simpson Manufacturing’s payout ratio is currently 41.58%.
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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