Simpson Manufacturing (NYSE:SSD) Shares Gap Down on Disappointing Earnings

Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $185.12, but opened at $171.98. Simpson Manufacturing shares last traded at $164.25, with a volume of 176,683 shares traded.

The construction company reported $1.77 EPS 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 company had revenue of $530.58 million for the quarter, compared to the consensus estimate of $549.87 million. During the same quarter last year, the business earned $2.05 EPS. Simpson Manufacturing’s revenue was down .7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

SSD has been the topic of a number of recent research reports. Robert W. Baird raised their price objective 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 raised Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Wednesday.

Insider Buying and Selling at Simpson Manufacturing

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new position in Simpson Manufacturing during the 4th quarter worth about $29,000. Rise Advisors LLC bought a new position in shares of Simpson Manufacturing in the 1st quarter worth about $37,000. Headlands Technologies LLC bought a new position in shares of Simpson Manufacturing in the 4th quarter worth about $37,000. GAMMA Investing LLC bought a new position in shares of Simpson Manufacturing in the 4th quarter worth about $35,000. Finally, Arlington Trust Co LLC bought a new position in shares of Simpson Manufacturing in the 3rd quarter worth about $31,000. 93.68% of the stock is owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Performance

The company has a 50-day moving average price of $196.61 and a two-hundred day moving average price of $178.86. The company has a current ratio of 3.63, a quick ratio of 2.11 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.20 billion, a P/E ratio of 21.25 and a beta of 1.30.

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.