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

Simpson Manufacturing Co., Inc. (NYSE:SSD) shares gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $186.15, but opened at $177.70. Simpson Manufacturing shares last traded at $173.96, with a volume of 81,229 shares trading hands.

The construction company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The company had revenue of $587.15 million for the quarter, compared to the consensus estimate of $589.00 million. Simpson Manufacturing had a return on equity of 19.42% and a net margin of 15.03%. Simpson Manufacturing’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $2.43 EPS.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.04%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price objective on shares of Simpson Manufacturing from $202.00 to $218.00 and gave the stock an “outperform” rating in a research report on Monday.

Insider Buying and Selling

In related news, Director James S. Andrasick sold 500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total value of $89,375.00. Following the sale, the director now owns 866 shares in the company, valued at $154,797.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director James S. Andrasick sold 500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total value of $89,375.00. Following the sale, the director now owns 866 shares in the company, valued at $154,797.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Olosky sold 6,871 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $187.41, for a total transaction of $1,287,694.11. Following the completion of the sale, the chief executive officer now owns 19,534 shares in the company, valued at $3,660,866.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,571 shares of company stock worth $2,348,027 in the last quarter. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Simpson Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC increased its stake in Simpson Manufacturing by 0.7% in the 2nd quarter. SkyView Investment Advisors LLC now owns 9,161 shares of the construction company’s stock valued at $1,544,000 after buying an additional 67 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Simpson Manufacturing by 1.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,136 shares of the construction company’s stock valued at $697,000 after buying an additional 72 shares during the last quarter. Jennison Associates LLC increased its stake in Simpson Manufacturing by 1.8% in the 1st quarter. Jennison Associates LLC now owns 5,023 shares of the construction company’s stock valued at $1,031,000 after buying an additional 90 shares during the last quarter. Private Advisor Group LLC increased its stake in Simpson Manufacturing by 4.3% in the 1st quarter. Private Advisor Group LLC now owns 2,199 shares of the construction company’s stock valued at $451,000 after buying an additional 91 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in Simpson Manufacturing by 4.0% in the 3rd quarter. Inspire Investing LLC now owns 2,437 shares of the construction company’s stock valued at $466,000 after buying an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.21 and a current ratio of 3.69. The stock has a market cap of $7.42 billion, a PE ratio of 22.05 and a beta of 1.32. The company’s 50 day simple moving average is $184.26 and its 200 day simple moving average is $178.16.

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.