Zacks: Simpson Manufacturing (SSD) Given $63.33 Consensus Target Price by Analysts

Simpson Manufacturing (NYSE:SSD) has been assigned an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Brokerages have set a one year consensus price objective of $63.33 for the company and are anticipating that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also assigned Simpson Manufacturing an industry rank of 54 out of 265 based on the ratings given to its competitors.

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Several research firms have commented on SSD. Zacks Investment Research downgraded shares of Simpson Manufacturing from a “hold” rating to a “sell” rating in a research report on Wednesday, April 11th. Sidoti began coverage on shares of Simpson Manufacturing in a report on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 price target for the company. Finally, Robert W. Baird restated a “buy” rating and set a $64.00 price target on shares of Simpson Manufacturing in a report on Tuesday, January 9th.

In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 120,825 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $59.56, for a total transaction of $7,196,337.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Psb Fund Simpson sold 110,329 shares of the company’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $57.35, for a total transaction of $6,327,368.15. Following the sale, the insider now owns 467,224 shares of the company’s stock, valued at $26,795,296.40. The disclosure for this sale can be found here. Insiders have sold 1,051,993 shares of company stock valued at $61,088,244 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSD. Macquarie Group Ltd. bought a new stake in shares of Simpson Manufacturing in the third quarter valued at about $103,000. Legal & General Group Plc lifted its stake in shares of Simpson Manufacturing by 7.2% in the third quarter. Legal & General Group Plc now owns 85,392 shares of the construction company’s stock valued at $4,187,000 after buying an additional 5,721 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Simpson Manufacturing by 12.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 283,341 shares of the construction company’s stock valued at $13,896,000 after buying an additional 32,056 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Simpson Manufacturing by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,778,840 shares of the construction company’s stock valued at $87,234,000 after buying an additional 28,126 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Simpson Manufacturing by 13.3% in the third quarter. California Public Employees Retirement System now owns 85,188 shares of the construction company’s stock valued at $4,178,000 after buying an additional 9,988 shares during the period. Institutional investors and hedge funds own 88.58% of the company’s stock.

Simpson Manufacturing stock traded down $0.56 during mid-day trading on Thursday, hitting $55.34. 163,737 shares of the company’s stock were exchanged, compared to its average volume of 258,740. The company has a market capitalization of $2,613.88, a price-to-earnings ratio of 28.23, a PEG ratio of 4.23 and a beta of 1.48. Simpson Manufacturing has a 1-year low of $39.82 and a 1-year high of $61.62.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, February 5th. The construction company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.10). The business had revenue of $231.68 million for the quarter, compared to analyst estimates of $224.47 million. Simpson Manufacturing had a return on equity of 9.64% and a net margin of 9.48%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. equities research analysts forecast that Simpson Manufacturing will post 2.64 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 26th. Shareholders of record on Thursday, April 5th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, April 4th. Simpson Manufacturing’s dividend payout ratio (DPR) is 42.42%.

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About Simpson Manufacturing

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

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