Simpson Manufacturing’s (SSD) Hold (C+) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their hold (c+) rating on shares of Simpson Manufacturing (NYSE:SSD) in a research note released on Friday morning,Weiss Ratings reports.

Separately, DA Davidson boosted their price objective on Simpson Manufacturing from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $191.00.

Simpson Manufacturing Stock Performance

Shares of NYSE SSD opened at $175.45 on Friday. The stock has a market cap of $7.30 billion, a PE ratio of 22.38 and a beta of 1.28. Simpson Manufacturing has a 1 year low of $137.35 and a 1 year high of $197.82. The firm has a fifty day moving average price of $181.24 and a 200-day moving average price of $168.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The company had revenue of $631.06 million for the quarter, compared to analysts’ expectations of $601.80 million. During the same quarter in the previous year, the company earned $2.31 EPS. Simpson Manufacturing’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts anticipate that Simpson Manufacturing will post 8.29 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the sale, the executive vice president directly owned 7,810 shares in the company, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president directly owned 7,794 shares of the company’s stock, valued at approximately $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MGO One Seven LLC increased its position in Simpson Manufacturing by 1.1% in the third quarter. MGO One Seven LLC now owns 8,234 shares of the construction company’s stock worth $1,379,000 after purchasing an additional 87 shares during the last quarter. Bayforest Capital Ltd grew its stake in shares of Simpson Manufacturing by 508.9% in the 3rd quarter. Bayforest Capital Ltd now owns 2,131 shares of the construction company’s stock worth $357,000 after buying an additional 1,781 shares in the last quarter. Forum Financial Management LP bought a new stake in shares of Simpson Manufacturing in the 3rd quarter worth about $215,000. Benjamin Edwards Inc. raised its position in shares of Simpson Manufacturing by 67.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,943 shares of the construction company’s stock valued at $493,000 after buying an additional 1,186 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new position in shares of Simpson Manufacturing in the 3rd quarter valued at about $201,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

About Simpson Manufacturing

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