ValuEngine Lowers Simpson Manufacturing (SSD) to Hold

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Simpson Manufacturing (NYSE:SSD) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research firms have also issued reports on SSD. Zacks Investment Research upgraded Simpson Manufacturing from a “sell” rating to a “hold” rating and set a $82.00 target price for the company in a research report on Thursday, August 2nd. Sidoti upgraded Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 31st. Finally, Robert W. Baird lowered Simpson Manufacturing from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $75.00 to $72.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $74.00.

Shares of Simpson Manufacturing stock traded down $1.91 during trading on Thursday, hitting $60.96. 409,300 shares of the company were exchanged, compared to its average volume of 259,242. The firm has a market capitalization of $3.36 billion, a P/E ratio of 30.79, a PEG ratio of 4.74 and a beta of 1.59. Simpson Manufacturing has a 1-year low of $48.32 and a 1-year high of $78.36.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, July 30th. The construction company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.21. The company had revenue of $308.01 million during the quarter, compared to analyst estimates of $282.02 million. Simpson Manufacturing had a return on equity of 12.61% and a net margin of 10.58%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. On average, equities research analysts expect that Simpson Manufacturing will post 3.06 EPS for the current fiscal year.

In related news, Director James S. Andrasick sold 1,950 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $73.43, for a total value of $143,188.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its position in shares of Simpson Manufacturing by 56.1% in the 2nd quarter. Sei Investments Co. now owns 2,485 shares of the construction company’s stock valued at $154,000 after purchasing an additional 893 shares during the period. Amalgamated Bank grew its position in shares of Simpson Manufacturing by 15.3% in the 2nd quarter. Amalgamated Bank now owns 6,776 shares of the construction company’s stock valued at $421,000 after purchasing an additional 900 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Simpson Manufacturing by 31.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,920 shares of the construction company’s stock valued at $244,000 after purchasing an additional 939 shares during the period. Legal & General Group Plc grew its position in shares of Simpson Manufacturing by 1.1% in the 1st quarter. Legal & General Group Plc now owns 86,324 shares of the construction company’s stock valued at $4,954,000 after purchasing an additional 943 shares during the period. Finally, Xact Kapitalforvaltning AB grew its position in shares of Simpson Manufacturing by 26.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 4,837 shares of the construction company’s stock valued at $279,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

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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