Simpson Manufacturing (NYSE:SSD) Shares Gap Up Following Earnings Beat

Simpson Manufacturing Co., Inc. (NYSE:SSD) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $166.88, but opened at $176.41. Simpson Manufacturing shares last traded at $173.03, with a volume of 27,968 shares trading hands.

The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 3rd. Simpson Manufacturing’s payout ratio is 14.80%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their target price on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a research report on Tuesday.

Insider Activity

In other Simpson Manufacturing news, EVP Roger Dankel sold 250 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $183.06, for a total value of $45,765.00. Following the transaction, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Simpson Manufacturing

Several hedge funds and other institutional investors have recently made changes to their positions in SSD. Segall Bryant & Hamill LLC boosted its holdings in Simpson Manufacturing by 148.9% during the 4th quarter. Segall Bryant & Hamill LLC now owns 119,157 shares of the construction company’s stock worth $19,760,000 after acquiring an additional 71,276 shares during the last quarter. Walnut Level Capital LLC bought a new position in shares of Simpson Manufacturing during the fourth quarter valued at about $1,244,000. Vanguard Group Inc. boosted its holdings in Simpson Manufacturing by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,204,871 shares of the construction company’s stock worth $697,294,000 after purchasing an additional 31,164 shares during the last quarter. LPL Financial LLC grew its position in Simpson Manufacturing by 37.4% in the 4th quarter. LPL Financial LLC now owns 9,913 shares of the construction company’s stock worth $1,644,000 after purchasing an additional 2,697 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Simpson Manufacturing in the 4th quarter valued at about $1,492,000. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Stock Performance

The company’s 50-day simple moving average is $169.93 and its 200 day simple moving average is $178.73. The stock has a market cap of $7.15 billion, a P/E ratio of 22.40 and a beta of 1.35. The company has a current ratio of 3.53, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24.

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.