Research Analysts Set Expectations for Simpson Manufacturing Co., Inc.’s Q2 2024 Earnings (NYSE:SSD)

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Simpson Manufacturing in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst K. Yinger expects that the construction company will post earnings per share of $2.49 for the quarter. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.74 per share. DA Davidson also issued estimates for Simpson Manufacturing’s FY2025 earnings at $9.59 EPS.

Other equities research analysts have also issued reports about the stock. StockNews.com upgraded shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th.

Simpson Manufacturing Stock Up 0.2 %

Shares of SSD opened at $169.56 on Wednesday. Simpson Manufacturing has a 1 year low of $117.08 and a 1 year high of $218.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.63 and a quick ratio of 2.11. The stock has a 50 day simple moving average of $196.61 and a two-hundred day simple moving average of $178.86. The firm has a market cap of $7.20 billion, a P/E ratio of 21.25 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.07). Simpson Manufacturing had a return on equity of 20.77% and a net margin of 15.45%. The business had revenue of $530.58 million during the quarter, compared to the consensus estimate of $549.87 million. During the same quarter in the prior year, the company earned $2.05 earnings per share. Simpson Manufacturing’s revenue was down .7% compared to the same quarter last year.

Institutional Trading of Simpson Manufacturing

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

Insider Activity

In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the sale, the director now directly owns 14,638 shares in the company, valued at $2,817,522.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing 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 sale, the director now directly owns 14,638 shares in the company, valued at $2,817,522.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Phillip Burton sold 2,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,784 shares of company stock valued at $770,924. Corporate insiders own 0.42% of the company’s stock.

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.