Simpson Manufacturing Co., Inc. to Post Q2 2024 Earnings of $2.49 Per Share, DA Davidson Forecasts (NYSE:SSD)

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Simpson Manufacturing in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst K. Yinger forecasts that the construction company will post earnings of $2.49 per share for the quarter. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.74 per share. DA Davidson also issued estimates for Simpson Manufacturing’s FY2025 earnings at $9.59 EPS.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.07). Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.77%. The business had revenue of $530.58 million for the quarter, compared to analysts’ expectations of $549.87 million. During the same quarter in the prior year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Robert W. Baird upped their target price on 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 Down 8.6 %

Shares of NYSE:SSD opened at $169.28 on Wednesday. Simpson Manufacturing has a 1 year low of $112.38 and a 1 year high of $218.38. The company has a market cap of $7.19 billion, a PE ratio of 21.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.63 and a quick ratio of 2.11. The stock’s 50-day moving average is $197.04 and its 200 day moving average is $178.93.

Insiders Place Their Bets

In related news, EVP Phillip Burton sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the sale, the executive vice president now owns 4,044 shares in the company, valued at approximately $854,861.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Phillip Burton sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the sale, the executive vice president now owns 4,044 shares in the company, valued at approximately $854,861.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer Chatman sold 934 shares of the company’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 value of $179,776.32. Following the completion of the sale, 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 quarter, insiders have sold 3,784 shares of company stock worth $770,924. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Simpson Manufacturing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSD. SG Americas Securities LLC bought a new position in Simpson Manufacturing in the 3rd quarter valued at approximately $137,000. Robeco Institutional Asset Management B.V. bought a new position in Simpson Manufacturing in the 3rd quarter valued at approximately $98,000. Raymond James Financial Services Advisors Inc. lifted its position in Simpson Manufacturing by 10.1% in 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 in the last quarter. Arlington Trust Co LLC bought a new position in Simpson Manufacturing in the 3rd quarter valued at approximately $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Simpson Manufacturing by 19.8% in 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 in 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.