DA Davidson Has Negative Outlook for SSD FY2024 Earnings

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Equities researchers at DA Davidson dropped their FY2024 earnings estimates for shares of Simpson Manufacturing in a note issued to investors on Tuesday, October 22nd. DA Davidson analyst K. Yinger now expects that the construction company will post earnings per share of $7.55 for the year, down from their previous forecast of $8.10. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.10 per share. DA Davidson also issued estimates for Simpson Manufacturing’s Q4 2024 earnings at $1.27 EPS.

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

Simpson Manufacturing Stock Up 0.3 %

Shares of Simpson Manufacturing stock opened at $176.48 on Wednesday. Simpson Manufacturing has a 52-week low of $123.93 and a 52-week high of $218.38. 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 business’s 50 day simple moving average is $184.29 and its 200 day simple moving average is $178.03. The firm has a market cap of $7.44 billion, a PE ratio of 22.12 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.43 EPS.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, October 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.04%.

Insider Activity at Simpson Manufacturing

In related news, EVP Roger Dankel sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $190.44, for a total transaction of $514,188.00. Following the transaction, the executive vice president now directly owns 24,064 shares of the company’s stock, valued at approximately $4,582,748.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Simpson Manufacturing news, EVP Jennifer Lutz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $175.58, for a total transaction of $175,580.00. Following the completion of the sale, the executive vice president now directly owns 4,033 shares in the company, valued at $708,114.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Roger Dankel sold 2,700 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $190.44, for a total value of $514,188.00. Following the completion of the sale, the executive vice president now owns 24,064 shares of the company’s stock, valued at $4,582,748.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,571 shares of company stock worth $2,348,027. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Simpson Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Simpson Manufacturing during the first quarter worth about $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Simpson Manufacturing in the third quarter valued at approximately $34,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Simpson Manufacturing by 550.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 221 shares of the construction company’s stock valued at $45,000 after buying an additional 187 shares during the period. CWM LLC grew its position in Simpson Manufacturing by 50.2% during the first quarter. CWM LLC now owns 323 shares of the construction company’s stock worth $66,000 after buying an additional 108 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Simpson Manufacturing by 93.9% during the 3rd quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock worth $73,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 93.68% 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.