Simpson Manufacturing (NYSE:SSD) Shares Gap Down Following Weak Earnings

Simpson Manufacturing Co., Inc. (NYSE:SSD)’s stock price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $185.12, but opened at $171.98. Simpson Manufacturing shares last traded at $164.25, with a volume of 176,683 shares trading hands.

The construction company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.07). The firm had revenue of $530.58 million for the quarter, compared to analyst estimates of $549.87 million. Simpson Manufacturing had a net margin of 15.99% and a return on equity of 22.06%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SSD. StockNews.com downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Robert W. Baird increased their price target on Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th.

Insider Buying and Selling at Simpson Manufacturing

In related news, EVP Phillip Burton sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $211.39, for a total value of $422,780.00. Following the transaction, the executive vice president now directly owns 4,044 shares in the company, valued at approximately $854,861.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Simpson Manufacturing news, EVP Phillip Burton sold 2,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $211.39, for a total value of $422,780.00. Following the completion of the sale, the executive vice president now directly owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the sale, the director now directly owns 14,638 shares in the company, valued at $2,817,522.24. The disclosure for this sale can be found here. Insiders have sold a total of 3,784 shares of company stock worth $770,924 over the last three months. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new position in Simpson Manufacturing during the fourth quarter worth about $29,000. Rise Advisors LLC acquired a new position in Simpson Manufacturing during the first quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new position in Simpson Manufacturing during the fourth quarter valued at approximately $37,000. GAMMA Investing LLC acquired a new stake in Simpson Manufacturing in the fourth quarter worth $35,000. Finally, Arlington Trust Co LLC acquired a new stake in Simpson Manufacturing in the third quarter worth $31,000. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Trading Down 8.6 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 3.63 and a quick ratio of 2.11. The business’s 50-day moving average price is $197.04 and its two-hundred day moving average price is $178.93. The company has a market capitalization of $7.19 billion, a P/E ratio of 20.49 and a beta of 1.30.

Simpson Manufacturing Company Profile

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.