DA Davidson Issues Positive Forecast for Simpson Manufacturing (NYSE:SSD) Stock Price

Simpson Manufacturing (NYSE:SSD) had its target price upped by DA Davidson from $180.00 to $185.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Simpson Manufacturing Trading Up 10.7%

NYSE:SSD opened at $183.79 on Tuesday. Simpson Manufacturing has a 1-year low of $137.35 and a 1-year high of $197.82. The business’s 50-day moving average price is $159.41 and its two-hundred day moving average price is $159.77. The company has a current ratio of 3.17, a quick ratio of 1.54 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 23.44 and a beta of 1.28.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.08. The company had revenue of $631.06 million for the quarter, compared to analyst estimates of $601.80 million. Simpson Manufacturing had a return on equity of 17.92% and a net margin of 14.53%. Simpson Manufacturing’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 earnings per share. On average, equities analysts expect that Simpson Manufacturing will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing’s dividend payout ratio is currently 15.10%.

Institutional Investors Weigh In On Simpson Manufacturing

Hedge funds have recently modified their holdings of the business. LPL Financial LLC raised 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 valued at $1,644,000 after buying an additional 2,697 shares during the last quarter. Norges Bank bought a new position in Simpson Manufacturing in the fourth quarter valued at approximately $73,758,000. Pictet Asset Management Holding SA grew its stake in Simpson Manufacturing by 10.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,339 shares of the construction company’s stock valued at $1,051,000 after purchasing an additional 610 shares in the last quarter. Schroder Investment Management Group grew its stake in Simpson Manufacturing by 29.9% in the fourth quarter. Schroder Investment Management Group now owns 182,521 shares of the construction company’s stock valued at $30,198,000 after purchasing an additional 41,971 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Simpson Manufacturing by 2.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,809 shares of the construction company’s stock valued at $447,000 after purchasing an additional 70 shares in the last quarter. 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.