Simpson Manufacturing (NYSE:SSD) Rating Increased to Buy at StockNews.com

Simpson Manufacturing (NYSE:SSD) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Separately, Robert W. Baird increased their price target on 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 Trading Up 0.7 %

Shares of Simpson Manufacturing stock opened at $170.80 on Wednesday. Simpson Manufacturing has a fifty-two week low of $117.08 and a fifty-two week high of $218.38. The firm has a market cap of $7.25 billion, a PE ratio of 21.40 and a beta of 1.30. The business’s fifty day moving average is $196.11 and its two-hundred day moving average is $178.81. The company has a quick ratio of 2.11, a current ratio of 3.77 and a debt-to-equity ratio of 0.26.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly 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 20.51% and a net margin of 15.45%. The business had revenue of $530.58 million for the quarter, compared to analysts’ expectations of $549.87 million. During the same period in the prior year, the company earned $2.05 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that Simpson Manufacturing will post 8.74 earnings per share for the current year.

Insider Transactions at Simpson Manufacturing

In other news, EVP Phillip Burton sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total transaction of $422,780.00. Following the completion of the sale, the executive vice president now directly owns 4,044 shares in the company, valued at approximately $854,861.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Roger Dankel sold 850 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total value of $168,368.00. Following the completion of the sale, the executive vice president now directly owns 28,764 shares in the company, valued at approximately $5,697,573.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Phillip Burton sold 2,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $211.39, for a total value of $422,780.00. Following the completion of the sale, the executive vice president now owns 4,044 shares of the company’s stock, valued at $854,861.16. The disclosure for this sale can be found here. Insiders sold a total of 3,784 shares of company stock worth $770,924 in the last ninety days. Insiders own 0.42% of the company’s stock.

Institutional Trading of Simpson Manufacturing

Several large investors have recently added to or reduced their stakes in SSD. Louisiana State Employees Retirement System boosted its position in Simpson Manufacturing by 2.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the construction company’s stock valued at $2,524,000 after buying an additional 300 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in Simpson Manufacturing in the 1st quarter valued at about $908,000. Hunter Perkins Capital Management LLC purchased a new position in Simpson Manufacturing in the 1st quarter valued at about $1,340,000. Raymond James Financial Services Advisors Inc. boosted its position in Simpson Manufacturing by 13.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,239 shares of the construction company’s stock valued at $1,896,000 after buying an additional 1,103 shares during the last quarter. Finally, Outlook Wealth Advisors LLC boosted its position in Simpson Manufacturing by 21.7% in the 1st quarter. Outlook Wealth Advisors LLC now owns 1,782 shares of the construction company’s stock valued at $366,000 after buying an additional 318 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

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.