Simpson Manufacturing Company, Inc. (NYSE:SSD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Simpson Manufacturing Company, Inc. (NYSE:SSD) has been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $214.75.

A number of analysts have recently weighed in on SSD shares. Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. DA Davidson increased their price objective on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Stephens increased their price objective on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Stifel Nicolaus increased their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Robert W. Baird increased their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th.

Simpson Manufacturing Stock Down 0.5%

NYSE:SSD opened at $190.25 on Friday. The firm has a market capitalization of $7.83 billion, a P/E ratio of 22.30 and a beta of 1.34. Simpson Manufacturing has a 1-year low of $151.38 and a 1-year high of $211.98. The company’s fifty day moving average price is $179.98 and its 200-day moving average price is $178.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. The firm had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 earnings per share. As a group, equities research analysts anticipate that Simpson Manufacturing will post 9.18 EPS for the current year.

Simpson Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. Simpson Manufacturing’s payout ratio is currently 13.60%.

Institutional Trading of Simpson Manufacturing

Hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its holdings in Simpson Manufacturing by 43.2% during the third quarter. Alps Advisors Inc. now owns 28,843 shares of the construction company’s stock worth $4,830,000 after buying an additional 8,706 shares in the last quarter. Cooke & Bieler LP boosted its holdings in Simpson Manufacturing by 77.9% during the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock worth $20,940,000 after buying an additional 56,769 shares in the last quarter. Westview Management dba Westview Investment Advisors purchased a new stake in Simpson Manufacturing during the fourth quarter worth $2,074,000. Rafferty Asset Management LLC boosted its holdings in Simpson Manufacturing by 117.6% during the third quarter. Rafferty Asset Management LLC now owns 33,651 shares of the construction company’s stock worth $5,635,000 after buying an additional 18,186 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Simpson Manufacturing by 21.6% during the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock worth $19,921,000 after buying an additional 21,889 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.