Simpson Manufacturing Co, Inc. (NYSE:SSD) Short Interest Update

Simpson Manufacturing Co, Inc. (NYSE:SSD) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 1,510,000 shares, a decrease of 5.6% from the August 30th total of 1,600,000 shares. Based on an average daily trading volume, of 224,400 shares, the days-to-cover ratio is presently 6.7 days. Approximately 3.8% of the shares of the stock are sold short.

A number of equities research analysts recently issued reports on the company. ValuEngine downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday. Sidoti cut Simpson Manufacturing from a “buy” rating to a “neutral” rating and cut their target price for the stock from $72.00 to $60.00 in a research note on Tuesday, July 30th. Finally, Zacks Investment Research upgraded Simpson Manufacturing from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

In related news, insider Roger Dankel sold 1,300 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.39, for a total transaction of $83,707.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Ricardo M. Arevalo sold 1,301 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $65.37, for a total value of $85,046.37. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D.B. Root & Company LLC lifted its stake in Simpson Manufacturing by 3.0% during the second quarter. D.B. Root & Company LLC now owns 6,874 shares of the construction company’s stock worth $456,000 after purchasing an additional 200 shares during the last quarter. Zebra Capital Management LLC lifted its stake in shares of Simpson Manufacturing by 4.5% in the 2nd quarter. Zebra Capital Management LLC now owns 5,155 shares of the construction company’s stock valued at $343,000 after acquiring an additional 222 shares during the last quarter. Wrapmanager Inc. lifted its stake in shares of Simpson Manufacturing by 5.9% in the 2nd quarter. Wrapmanager Inc. now owns 5,746 shares of the construction company’s stock valued at $382,000 after acquiring an additional 320 shares during the last quarter. Mirador Capital Partners LP lifted its stake in shares of Simpson Manufacturing by 6.8% in the 2nd quarter. Mirador Capital Partners LP now owns 6,529 shares of the construction company’s stock valued at $434,000 after acquiring an additional 418 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Simpson Manufacturing by 6.1% in the 2nd quarter. Janus Henderson Group PLC now owns 8,619 shares of the construction company’s stock valued at $573,000 after acquiring an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 89.70% of the company’s stock.

NYSE SSD opened at $70.84 on Wednesday. The business has a fifty day moving average price of $67.32 and a two-hundred day moving average price of $64.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.90 and a quick ratio of 2.21. Simpson Manufacturing has a fifty-two week low of $49.54 and a fifty-two week high of $71.00. The stock has a market capitalization of $3.10 billion, a PE ratio of 24.83, a PEG ratio of 5.07 and a beta of 1.37.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, July 29th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.14). Simpson Manufacturing had a return on equity of 14.69% and a net margin of 11.21%. The business had revenue of $304.90 million for the quarter, compared to the consensus estimate of $323.71 million. During the same quarter in the previous year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts expect that Simpson Manufacturing will post 2.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.30%. The ex-dividend date is Wednesday, October 2nd. Simpson Manufacturing’s payout ratio is presently 31.83%.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.

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