Simpson Manufacturing (NYSE:SSD) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Simpson Manufacturing (NYSE:SSDFree Report) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

A number of other research firms also recently issued reports on SSD. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Stephens increased their price target on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Stifel Nicolaus increased their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. DA Davidson increased their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Robert W. Baird increased their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.75.

View Our Latest Stock Report on Simpson Manufacturing

Simpson Manufacturing Stock Performance

SSD stock opened at $178.50 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $178.92 and its two-hundred day simple moving average is $178.14. Simpson Manufacturing has a twelve month low of $151.38 and a twelve month high of $211.98. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 20.93 and a beta of 1.34.

Simpson Manufacturing (NYSE:SSDGet Free Report) last released its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same quarter last year, the firm posted $1.85 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts predict that Simpson Manufacturing will post 9.18 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. Simpson Manufacturing’s dividend payout ratio is 13.60%.

Institutional Investors Weigh In On Simpson Manufacturing

Several institutional investors have recently added to or reduced their stakes in SSD. Bank of Montreal Can boosted its holdings in Simpson Manufacturing by 11,044.7% in the fourth quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after acquiring an additional 672,402 shares in the last quarter. Norges Bank acquired a new stake in Simpson Manufacturing in the fourth quarter worth about $85,140,000. Victory Capital Management Inc. boosted its holdings in Simpson Manufacturing by 6,234.7% in the fourth quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock worth $64,257,000 after acquiring an additional 391,665 shares in the last quarter. Capital International Investors boosted its holdings in Simpson Manufacturing by 93.7% in the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock worth $107,086,000 after acquiring an additional 320,870 shares in the last quarter. Finally, ValueAct Holdings L.P. boosted its holdings in Simpson Manufacturing by 21.9% in the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock worth $237,707,000 after acquiring an additional 264,200 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Company Profile

(Get Free Report)

Simpson Manufacturing Co, Inc, through its Simpson Strong-TieĀ® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.

See Also

Analyst Recommendations for Simpson Manufacturing (NYSE:SSD)

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