Simpson Manufacturing (NYSE:SSD) Sets New 12-Month Low – Here’s Why

Simpson Manufacturing Co., Inc. (NYSE:SSD)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $155.78 and last traded at $158.50, with a volume of 24688 shares trading hands. The stock had previously closed at $159.08.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their price target on shares of Simpson Manufacturing from $202.00 to $218.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st.

Simpson Manufacturing Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 3.53 and a quick ratio of 1.99. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 20.87 and a beta of 1.35. The business’s 50-day moving average price is $177.71 and its two-hundred day moving average price is $179.91.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.19). The company had revenue of $587.15 million during the quarter, compared to analyst estimates of $589.00 million. Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. Simpson Manufacturing’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.43 earnings per share. Research analysts predict that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.12 annualized dividend and a yield of 0.71%. Simpson Manufacturing’s dividend payout ratio is 14.80%.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Roger Dankel sold 250 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $183.06, for a total value of $45,765.00. Following the sale, the executive vice president now owns 23,814 shares of the company’s stock, valued at approximately $4,359,390.84. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Trading of Simpson Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in Simpson Manufacturing during the third quarter worth about $34,000. Prospera Private Wealth LLC bought a new stake in shares of Simpson Manufacturing during the 3rd quarter valued at approximately $37,000. Millburn Ridgefield Corp acquired a new position in Simpson Manufacturing during the 3rd quarter worth approximately $51,000. Huntington National Bank lifted its stake in Simpson Manufacturing by 73.2% in the 3rd quarter. Huntington National Bank now owns 336 shares of the construction company’s stock valued at $64,000 after purchasing an additional 142 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Simpson Manufacturing by 93.9% in the third quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock valued at $73,000 after buying an additional 184 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors.

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.