Simpson Manufacturing (SSD) Stock Price Down 5.4%

Simpson Manufacturing Co, Inc. (NYSE:SSD) traded down 5.4% on Monday . The stock traded as low as $62.90 and last traded at $63.20. 599,650 shares changed hands during mid-day trading, an increase of 133% from the average session volume of 257,618 shares. The stock had previously closed at $66.78.

Several equities research analysts have weighed in on the stock. Robert W. Baird downgraded shares of Simpson Manufacturing from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $75.00 to $72.00 in a research note on Monday. Zacks Investment Research raised shares of Simpson Manufacturing from a “sell” rating to a “hold” rating and set a $82.00 price target for the company in a research note on Thursday, August 2nd. ValuEngine downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Sidoti lifted their price target on shares of Simpson Manufacturing from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $74.00.

The stock has a market capitalization of $3.36 billion, a P/E ratio of 31.92, a PEG ratio of 4.74 and a beta of 1.59.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, July 30th. The construction company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.73 by $0.21. The company had revenue of $308.01 million during the quarter, compared to the consensus estimate of $282.02 million. Simpson Manufacturing had a net margin of 10.58% and a return on equity of 12.61%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. Equities analysts predict that Simpson Manufacturing Co, Inc. will post 3.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Thursday, October 4th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Wednesday, October 3rd. Simpson Manufacturing’s payout ratio is presently 44.44%.

In other news, Director James S. Andrasick sold 1,950 shares of the business’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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

Large investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in shares of Simpson Manufacturing by 56.1% during the second quarter. Sei Investments Co. now owns 2,485 shares of the construction company’s stock worth $154,000 after acquiring an additional 893 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Simpson Manufacturing during the second quarter worth about $175,000. D.B. Root & Company LLC bought a new stake in shares of Simpson Manufacturing during the second quarter worth about $219,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Simpson Manufacturing by 31.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,920 shares of the construction company’s stock worth $244,000 after acquiring an additional 939 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Simpson Manufacturing during the second quarter worth about $246,000. 88.95% of the stock is owned by institutional investors.

About Simpson Manufacturing (NYSE:SSD)

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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