Equities analysts forecast that Simpson Manufacturing Co, Inc. (NYSE:SSD) will post $324.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Simpson Manufacturing’s earnings, with estimates ranging from $315.10 million to $333.56 million. Simpson Manufacturing posted sales of $308.01 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The company is expected to report its next quarterly earnings report after the market closes on Monday, July 29th.
According to Zacks, analysts expect that Simpson Manufacturing will report full year sales of $1.15 billion for the current year, with estimates ranging from $1.14 billion to $1.16 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.22 billion, with estimates ranging from $1.21 billion to $1.23 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Simpson Manufacturing.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, April 29th. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). Simpson Manufacturing had a net margin of 11.59% and a return on equity of 15.05%. The business had revenue of $259.20 million for the quarter, compared to analysts’ expectations of $255.80 million. During the same period last year, the business earned $0.54 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis.
Separately, Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th.
Simpson Manufacturing stock traded down $1.32 during trading hours on Friday, hitting $63.50. The stock had a trading volume of 249,459 shares, compared to its average volume of 181,516. The company has a market cap of $2.84 billion, a PE ratio of 21.97, a P/E/G ratio of 4.01 and a beta of 1.47. Simpson Manufacturing has a 12-month low of $49.54 and a 12-month high of $78.36. The stock has a 50-day simple moving average of $65.01.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Wednesday, July 3rd will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 1.45%. Simpson Manufacturing’s payout ratio is 31.83%.
In other Simpson Manufacturing news, Director Greenway Robin Macgillivray sold 1,475 shares of Simpson Manufacturing stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $61.56, for a total value of $90,801.00. Following the completion of the transaction, the director now directly owns 12,470 shares of the company’s stock, valued at $767,653.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Conestoga Capital Advisors LLC grew its position in Simpson Manufacturing by 0.7% during the first quarter. Conestoga Capital Advisors LLC now owns 1,646,072 shares of the construction company’s stock valued at $97,563,000 after buying an additional 12,052 shares during the period. Wells Fargo & Company MN grew its position in Simpson Manufacturing by 10.1% during the first quarter. Wells Fargo & Company MN now owns 1,230,975 shares of the construction company’s stock valued at $72,959,000 after buying an additional 112,651 shares during the period. FMR LLC grew its position in Simpson Manufacturing by 9.0% during the first quarter. FMR LLC now owns 949,208 shares of the construction company’s stock valued at $56,260,000 after buying an additional 78,490 shares during the period. Royce & Associates LP grew its position in Simpson Manufacturing by 12.6% during the first quarter. Royce & Associates LP now owns 805,233 shares of the construction company’s stock valued at $47,726,000 after buying an additional 90,047 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Simpson Manufacturing by 194.8% during the first quarter. JPMorgan Chase & Co. now owns 586,216 shares of the construction company’s stock valued at $34,745,000 after buying an additional 387,368 shares during the period. Hedge funds and other institutional investors own 89.68% of the company’s stock.
Simpson Manufacturing Company Profile
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.
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