FY2024 EPS Estimates for Simpson Manufacturing Co., Inc. Lowered by DA Davidson (NYSE:SSD)

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Equities research analysts at DA Davidson dropped their FY2024 earnings per share estimates for Simpson Manufacturing in a research note issued on Tuesday, April 23rd. DA Davidson analyst K. Yinger now forecasts that the construction company will post earnings per share of $8.44 for the year, down from their previous forecast of $8.74. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.74 per share.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, April 22nd. The construction company reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.07). Simpson Manufacturing had a return on equity of 20.51% and a net margin of 15.45%. The company had revenue of $530.58 million for the quarter, compared to analysts’ expectations of $549.87 million. During the same quarter in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird lifted their price objective on Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. StockNews.com raised Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Wednesday.

Simpson Manufacturing Price Performance

SSD stock opened at $170.80 on Thursday. The business has a fifty day moving average of $196.11 and a two-hundred day moving average of $178.81. The company has a quick ratio of 2.11, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 21.40 and a beta of 1.30. Simpson Manufacturing has a 52-week low of $117.08 and a 52-week high of $218.38.

Institutional Investors Weigh In On Simpson Manufacturing

A number of institutional investors and hedge funds have recently bought and sold shares of SSD. SG Americas Securities LLC purchased a new position in shares of Simpson Manufacturing during the 3rd quarter worth $137,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Simpson Manufacturing during the 3rd quarter worth $98,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Simpson Manufacturing by 10.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,750 shares of the construction company’s stock worth $861,000 after purchasing an additional 527 shares during the period. Arlington Trust Co LLC purchased a new position in shares of Simpson Manufacturing in the 3rd quarter worth $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Simpson Manufacturing by 19.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,135 shares of the construction company’s stock worth $1,369,000 after buying an additional 1,507 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Phillip Burton sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $192.48, for a total transaction of $179,776.32. Following the transaction, the director now owns 14,638 shares in the company, valued at approximately $2,817,522.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Phillip Burton sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 owns 4,044 shares in the company, valued at approximately $854,861.16. The disclosure for this sale can be found here. Insiders sold a total of 3,784 shares of company stock valued at $770,924 in the last ninety days. Insiders own 0.42% of the company’s stock.

About Simpson Manufacturing

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.