Simpson Manufacturing Co., Inc. to Post Q2 2024 Earnings of $2.49 Per Share, DA Davidson Forecasts (NYSE:SSD)

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Simpson Manufacturing in a report released on Tuesday, April 23rd. DA Davidson analyst K. Yinger expects that the construction company will earn $2.49 per share 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.

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 the consensus estimate of $1.84 by ($0.07). The company had revenue of $530.58 million during the quarter, compared to analyst estimates of $549.87 million. Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.77%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS.

Several other equities research analysts have also recently commented on SSD. Robert W. Baird raised their target price on Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. StockNews.com lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th.

Simpson Manufacturing Trading Down 8.6 %

Shares of SSD stock opened at $169.28 on Wednesday. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 21.21 and a beta of 1.30. The stock has a 50-day moving average of $197.04 and a 200-day moving average of $178.93. The company has a current ratio of 3.63, a quick ratio of 2.11 and a debt-to-equity ratio of 0.27. Simpson Manufacturing has a 1-year low of $112.38 and a 1-year high of $218.38.

Insiders Place Their Bets

In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the transaction, the director now owns 14,638 shares in the company, valued at $2,817,522.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jennifer Chatman sold 934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the transaction, the director now 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 can be accessed through the SEC website. Also, EVP Phillip Burton sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 4,044 shares in the company, valued at approximately $854,861.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,784 shares of company stock worth $770,924. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Xponance Inc. lifted its holdings in shares of Simpson Manufacturing by 1.1% in the fourth quarter. Xponance Inc. now owns 6,216 shares of the construction company’s stock valued at $1,231,000 after purchasing an additional 67 shares in the last quarter. CWM LLC lifted its holdings in Simpson Manufacturing by 50.2% during the first quarter. CWM LLC now owns 323 shares of the construction company’s stock worth $66,000 after acquiring an additional 108 shares during the period. Signaturefd LLC lifted its holdings in Simpson Manufacturing by 36.1% during the third quarter. Signaturefd LLC now owns 415 shares of the construction company’s stock worth $62,000 after acquiring an additional 110 shares during the period. Cerity Partners LLC lifted its holdings in Simpson Manufacturing by 1.5% during the fourth quarter. Cerity Partners LLC now owns 7,662 shares of the construction company’s stock worth $1,517,000 after acquiring an additional 112 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Simpson Manufacturing by 19.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 801 shares of the construction company’s stock worth $120,000 after acquiring an additional 132 shares during the period. Institutional investors 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.