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

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

Separately, Robert W. Baird boosted their price objective on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $170.80 on Wednesday. The company has a market capitalization of $7.25 billion, a PE ratio of 21.40 and a beta of 1.30. Simpson Manufacturing has a one year low of $117.08 and a one year high of $218.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.77 and a quick ratio of 2.11. The company’s fifty day moving average price is $196.11 and its 200 day moving average price is $178.81.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.07). Simpson Manufacturing had a return on equity of 20.51% 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 in the previous year, the firm posted $2.05 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that Simpson Manufacturing will post 8.74 earnings per share for the current year.

Insider Activity

In other news, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction of $179,776.32. Following the sale, the director now directly owns 14,638 shares of the company’s stock, valued at $2,817,522.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Roger Dankel sold 850 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total transaction of $168,368.00. Following the sale, the executive vice president now directly owns 28,764 shares in the company, valued at $5,697,573.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,784 shares of company stock worth $770,924. Corporate 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. SG Americas Securities LLC bought a new stake in shares of Simpson Manufacturing during the third quarter valued at approximately $137,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Simpson Manufacturing during the third quarter valued at approximately $98,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Simpson Manufacturing by 10.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,750 shares of the construction company’s stock valued at $861,000 after purchasing an additional 527 shares during the last quarter. Arlington Trust Co LLC bought a new stake in shares of Simpson Manufacturing during the third quarter valued at approximately $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Simpson Manufacturing by 19.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,135 shares of the construction company’s stock valued at $1,369,000 after purchasing an additional 1,507 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

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.