Simpson Manufacturing (NYSE:SSD) Announces Quarterly Earnings Results


Simpson Manufacturing (NYSE:SSD – Get Rating) posted its earnings results on Monday. The construction company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.01 by $0.15, Briefing.com reports. Simpson Manufacturing had a net margin of 18.07% and a return on equity of 26.86%. The company had revenue of $593.23 million during the quarter, compared to the consensus estimate of $579.84 million. During the same period in the previous year, the firm posted $1.66 earnings per share. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis.

Simpson Manufacturing Trading Down 1.4%

SSD stock opened at $106.98 on Tuesday. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 14.96 and a beta of 1.19. Simpson Manufacturing has a twelve month low of $87.73 and a twelve month high of $141.26. The company has a quick ratio of 4.40, a current ratio of 5.85 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $102.94 and its two-hundred day simple moving average is $109.64.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Thursday, July 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.97%. The ex-dividend date is Wednesday, July 6th. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.25. Simpson Manufacturing’s payout ratio is currently 14.55%.

Insider Buying and Selling

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In related news, CEO Karen Winifred Colonias sold 15,000 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $110.46, for a total value of $1,656,900.00. Following the transaction, the chief executive officer now owns 33,423 shares in the company, valued at approximately $3,691,904.58. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Roger Dankel sold 600 shares of Simpson Manufacturing stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $105.00, for a total value of $63,000.00. Following the completion of the transaction, the insider now owns 32,412 shares in the company, valued at approximately $3,403,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Karen Winifred Colonias sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $110.46, for a total value of $1,656,900.00. Following the completion of the sale, the chief executive officer now owns 33,423 shares of the company’s stock, valued at approximately $3,691,904.58. The disclosure for this sale can be found here. Insiders sold a total of 22,380 shares of company stock valued at $2,429,487 over the last three months. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of Simpson Manufacturing in the first quarter valued at $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Simpson Manufacturing in the first quarter valued at about $84,000. Covestor Ltd grew its stake in Simpson Manufacturing by 59.5% during the 1st quarter. Covestor Ltd now owns 815 shares of the construction company’s stock valued at $89,000 after purchasing an additional 304 shares in the last quarter. Lazard Asset Management LLC grew its stake in Simpson Manufacturing by 1,781.7% during the 1st quarter. Lazard Asset Management LLC now owns 1,129 shares of the construction company’s stock valued at $123,000 after purchasing an additional 1,069 shares in the last quarter. Finally, AlphaCrest Capital Management LLC bought a new position in Simpson Manufacturing during the 1st quarter worth approximately $231,000. Institutional investors and hedge funds own 91.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Simpson Manufacturing from $136.00 to $145.00 in a research note on Tuesday, April 26th. StockNews.com cut shares of Simpson Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 20th.

About Simpson Manufacturing

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Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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, strengthening and protection products.

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Earnings History for Simpson Manufacturing (NYSE:SSD)

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