FY2024 EPS Estimates for Simpson Manufacturing Co., Inc. (NYSE:SSD) Lowered by Analyst

Simpson Manufacturing Co., Inc. (NYSE:SSD) – DA Davidson lowered their FY2024 earnings per share estimates for Simpson Manufacturing in a research report issued on Tuesday, April 23rd. DA Davidson analyst K. Yinger now forecasts that the construction company will post earnings of $8.44 per share for the year, down from their previous estimate of $8.74. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.74 per share.

Other equities research analysts also recently issued reports about the company. Robert W. Baird upped their price objective on Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. StockNews.com upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a research report on Wednesday.

Simpson Manufacturing Price Performance

Shares of Simpson Manufacturing stock opened at $169.56 on Thursday. The stock’s 50-day simple moving average is $196.61 and its 200-day simple moving average is $178.86. Simpson Manufacturing has a 52 week low of $117.08 and a 52 week high of $218.38. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 21.25 and a beta of 1.30. The company has a quick ratio of 2.11, a current ratio of 3.77 and a debt-to-equity ratio of 0.26.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, April 22nd. The construction company reported $1.77 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.07). Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The business had revenue of $530.58 million during the quarter, compared to analysts’ expectations of $549.87 million. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Simpson Manufacturing’s revenue was down .7% on a year-over-year basis.

Hedge Funds Weigh In On Simpson Manufacturing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in Simpson Manufacturing in the 4th quarter worth $29,000. Arlington Trust Co LLC acquired a new stake in Simpson Manufacturing during the 3rd quarter worth about $31,000. GAMMA Investing LLC acquired a new stake in Simpson Manufacturing during the 4th quarter worth about $35,000. Headlands Technologies LLC acquired a new stake in Simpson Manufacturing during the 4th quarter worth about $37,000. Finally, Rise Advisors LLC acquired a new stake in shares of Simpson Manufacturing during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Insider Activity

In related news, EVP Phillip Burton sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at $854,861.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Phillip Burton sold 2,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total transaction of $422,780.00. Following the completion of the sale, the executive vice president now owns 4,044 shares in the company, valued at approximately $854,861.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Roger Dankel sold 850 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total value of $168,368.00. Following the completion of the transaction, the executive vice president now owns 28,764 shares of the company’s stock, valued at approximately $5,697,573.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,784 shares of company stock valued at $770,924. 0.42% of the stock is currently owned by insiders.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.