Simpson Manufacturing Co, Inc. (NYSE:SSD) – Analysts at DA Davidson lowered their FY2018 earnings estimates for Simpson Manufacturing in a note issued to investors on Tuesday, October 30th. DA Davidson analyst S. Chercover now forecasts that the construction company will earn $3.11 per share for the year, down from their prior forecast of $3.14. DA Davidson also issued estimates for Simpson Manufacturing’s Q1 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.84 EPS and FY2019 earnings at $3.72 EPS.
Several other research firms also recently weighed in on SSD. Sidoti raised Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 31st. ValuEngine raised Simpson Manufacturing from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised 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. Finally, Robert W. Baird downgraded Simpson Manufacturing from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $75.00 to $72.00 in a research report on Monday, October 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $74.00.
Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, October 29th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $284.18 million during the quarter, compared to the consensus estimate of $296.80 million. Simpson Manufacturing had a return on equity of 14.43% and a net margin of 11.88%. Simpson Manufacturing’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS.
A number of hedge funds have recently bought and sold shares of SSD. BlackRock Inc. lifted its stake 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. Mesirow Financial Investment Management Equity Management purchased a new stake in Simpson Manufacturing during the second quarter worth approximately $13,753,000. Victory Capital Management Inc. lifted its stake in Simpson Manufacturing by 54.1% during the second quarter. Victory Capital Management Inc. now owns 546,939 shares of the construction company’s stock worth $34,014,000 after purchasing an additional 192,024 shares during the last quarter. FMR LLC lifted 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 purchasing an additional 180,900 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted 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 purchasing an additional 170,285 shares during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
In other news, Director James S. Andrasick sold 1,950 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $73.43, for a total transaction of $143,188.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 24th. Stockholders of record on Thursday, January 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Wednesday, January 2nd. Simpson Manufacturing’s dividend payout ratio is presently 44.44%.
Simpson Manufacturing Company Profile
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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