Simpson Manufacturing Company, Inc. (NYSE:SSD – Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $213.49 and last traded at $212.4840, with a volume of 29006 shares changing hands. The stock had previously closed at $206.58.
Analyst Upgrades and Downgrades
SSD has been the subject of several research reports. Robert W. Baird boosted 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. Stephens raised their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Stifel Nicolaus lifted their target price on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. DA Davidson upped their target price on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.75.
Check Out Our Latest Report on Simpson Manufacturing
Simpson Manufacturing Price Performance
Simpson Manufacturing (NYSE:SSD – Get Free Report) last issued its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The company had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. During the same period in the prior year, the business earned $1.85 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current fiscal year.
Simpson Manufacturing Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be issued a $0.30 dividend. 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 dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, July 2nd. Simpson Manufacturing’s payout ratio is currently 13.60%.
Hedge Funds Weigh In On Simpson Manufacturing
A number of institutional investors have recently bought and sold shares of SSD. ValueAct Holdings L.P. grew its stake in shares of Simpson Manufacturing by 21.9% in the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after buying an additional 264,200 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Simpson Manufacturing by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company’s stock valued at $141,826,000 after acquiring an additional 31,744 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Simpson Manufacturing by 0.5% in the first quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock valued at $147,236,000 after acquiring an additional 4,168 shares during the last quarter. Geode Capital Management LLC grew its position in Simpson Manufacturing by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company’s stock worth $123,603,000 after acquiring an additional 6,869 shares during the period. Finally, Bank of Montreal Can grew its position 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 during the period. 93.68% of the stock is owned by hedge funds and other institutional investors.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® 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.
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