Simpson Manufacturing Co., Inc. (NYSE:SSD) Forecasted to Post FY2024 Earnings of $8.44 Per Share

Simpson Manufacturing Co., Inc. (NYSE:SSD) – DA Davidson decreased their FY2024 earnings estimates for Simpson Manufacturing in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst K. Yinger now anticipates that the construction company will earn $8.44 per share for the year, down from their previous forecast of $8.74. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.44 per share.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data 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). Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The business had revenue of $530.58 million during the quarter, compared to analyst estimates of $549.87 million. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis.

Several other equities analysts have also weighed in on the stock. Robert W. Baird increased their price objective on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. StockNews.com raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a research report on Wednesday.

Simpson Manufacturing Trading Up 1.6 %

Shares of NYSE SSD opened at $173.55 on Thursday. The company’s 50 day simple moving average is $195.70 and its 200 day simple moving average is $179.05. Simpson Manufacturing has a fifty-two week low of $117.08 and a fifty-two week high of $218.38. The firm has a market capitalization of $7.37 billion, a P/E ratio of 21.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.77 and a quick ratio of 2.11.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction that occurred on 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 approximately $2,817,522.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Phillip Burton sold 2,000 shares of the business’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 transaction, the executive vice president now owns 4,044 shares in the company, valued at approximately $854,861.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer Chatman sold 934 shares of the business’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 transaction of $179,776.32. Following the completion of the transaction, the director now 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 three months, insiders have sold 3,784 shares of company stock valued at $770,924. 0.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SSD. SG Americas Securities LLC acquired a new position in shares of Simpson Manufacturing in the 3rd quarter worth approximately $137,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Simpson Manufacturing during the 3rd quarter valued at $98,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Simpson Manufacturing by 10.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,750 shares of the construction company’s stock valued at $861,000 after acquiring an additional 527 shares during the period. Arlington Trust Co LLC acquired a new position in shares of Simpson Manufacturing during the 3rd quarter valued at $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Simpson Manufacturing by 19.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,135 shares of the construction company’s stock valued at $1,369,000 after acquiring an additional 1,507 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.

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.