DA Davidson Research Analysts Boost Earnings Estimates for Simpson Manufacturing Co., Inc. (NYSE:SSD)

Simpson Manufacturing Co., Inc. (NYSE:SSDFree Report) – Investment analysts at DA Davidson lifted their FY2024 EPS estimates for Simpson Manufacturing in a research note issued on Tuesday, February 6th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $8.74 per share for the year, up from their previous forecast of $8.63. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.74 per share.

Separately, Robert W. Baird upped their target price on shares of Simpson Manufacturing from $198.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday.

Check Out Our Latest Stock Analysis on SSD

Simpson Manufacturing Stock Up 1.0 %

Shares of SSD stock opened at $192.30 on Thursday. Simpson Manufacturing has a 12 month low of $100.84 and a 12 month high of $202.14. The stock has a market cap of $8.21 billion, a P/E ratio of 23.28 and a beta of 1.28. The company has a current ratio of 3.63, a quick ratio of 2.28 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $186.98 and a two-hundred day simple moving average of $163.22.

Simpson Manufacturing (NYSE:SSDGet Free Report) last announced its earnings results on Monday, February 5th. The construction company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Simpson Manufacturing had a net margin of 15.99% and a return on equity of 22.06%. The business had revenue of $501.70 million for the quarter, compared to analysts’ expectations of $482.98 million. During the same period in the prior year, the company posted $1.35 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis.

Simpson Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, April 4th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.56%. Simpson Manufacturing’s payout ratio is currently 13.08%.

Insiders Place Their Bets

In related news, EVP Roger Dankel sold 850 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $184.16, for a total transaction of $156,536.00. Following the completion of the transaction, the executive vice president now owns 27,330 shares in the company, valued at $5,033,092.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 2,550 shares of company stock worth $457,283 over the last three months. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simpson Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of SSD. Norges Bank bought a new position in shares of Simpson Manufacturing during the fourth quarter worth $81,069,000. Morgan Stanley lifted its position in Simpson Manufacturing by 246.2% during the fourth quarter. Morgan Stanley now owns 517,900 shares of the construction company’s stock valued at $45,917,000 after purchasing an additional 368,325 shares during the last quarter. Invesco Ltd. lifted its position in Simpson Manufacturing by 309.3% during the third quarter. Invesco Ltd. now owns 482,881 shares of the construction company’s stock valued at $72,340,000 after purchasing an additional 364,910 shares during the last quarter. FMR LLC lifted its position in Simpson Manufacturing by 48.6% during the third quarter. FMR LLC now owns 1,051,150 shares of the construction company’s stock valued at $157,473,000 after purchasing an additional 343,986 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Simpson Manufacturing by 713.0% during the first quarter. Rockefeller Capital Management L.P. now owns 324,045 shares of the construction company’s stock valued at $35,527,000 after purchasing an additional 284,188 shares during the last quarter. Institutional investors own 89.45% of the company’s stock.

About Simpson Manufacturing

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Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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.

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