Simpson Manufacturing Co, Inc. (NYSE:SSD) – DA Davidson lowered their Q4 2018 earnings estimates for shares of Simpson Manufacturing in a research note issued on Tuesday, October 30th. DA Davidson analyst S. Chercover now anticipates that the construction company will post earnings of $0.67 per share for the quarter, down from their prior forecast of $0.71. DA Davidson also issued estimates for Simpson Manufacturing’s Q2 2019 earnings at $1.07 EPS and Q3 2019 earnings at $1.05 EPS.
Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, October 29th. The construction company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. The business had revenue of $284.18 million during the quarter, compared to analysts’ expectations of $296.80 million. Simpson Manufacturing had a net margin of 11.88% and a return on equity of 14.52%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share.
Shares of NYSE SSD opened at $57.08 on Wednesday. The stock has a market capitalization of $2.59 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 3.64 and a beta of 1.59. Simpson Manufacturing has a 52 week low of $53.15 and a 52 week high of $78.36.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Simpson Manufacturing by 6.4% during the second quarter. BlackRock Inc. now owns 5,996,211 shares of the construction company’s stock worth $372,905,000 after purchasing an additional 358,754 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Simpson Manufacturing by 12.1% during the third quarter. Conestoga Capital Advisors LLC now owns 1,581,452 shares of the construction company’s stock worth $114,592,000 after buying an additional 170,285 shares during the period. Northern Trust Corp boosted its stake in Simpson Manufacturing by 2.1% during the second quarter. Northern Trust Corp now owns 1,295,424 shares of the construction company’s stock worth $80,562,000 after buying an additional 27,040 shares during the period. Brown Advisory Inc. boosted its stake in Simpson Manufacturing by 0.3% during the second quarter. Brown Advisory Inc. now owns 1,018,883 shares of the construction company’s stock worth $63,364,000 after buying an additional 3,217 shares during the period. Finally, FMR LLC boosted its stake in Simpson Manufacturing by 28.3% during the second quarter. FMR LLC now owns 821,000 shares of the construction company’s stock worth $51,058,000 after buying an additional 180,900 shares during the period. Hedge funds and other institutional investors own 89.37% of the company’s stock.
In related news, Director James S. Andrasick sold 1,950 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $73.43, for a total transaction of $143,188.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Thursday, January 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, January 2nd. Simpson Manufacturing’s payout ratio is currently 44.44%.
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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