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

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Stock analysts at DA Davidson reduced their FY2024 earnings per share (EPS) estimates for shares of Simpson Manufacturing in a research report issued on Tuesday, April 23rd. DA Davidson analyst K. Yinger now expects that the construction company will earn $8.44 per share for the year, down from their prior forecast of $8.74. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.44 per share.

Other analysts also recently issued reports about the company. Robert W. Baird increased their price target on Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. StockNews.com upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Wednesday.

Simpson Manufacturing Trading Up 1.6 %

SSD stock opened at $173.55 on Thursday. Simpson Manufacturing has a 52 week low of $117.08 and a 52 week high of $218.38. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 21.75 and a beta of 1.30. The company has a quick ratio of 2.11, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $195.70 and a 200-day simple moving average of $179.05.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, April 22nd. The construction company reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.07). The firm had revenue of $530.58 million for the quarter, compared to analyst estimates of $549.87 million. Simpson Manufacturing had a return on equity of 20.51% and a net margin of 15.45%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 earnings per share.

Institutional Trading of Simpson Manufacturing

Large investors have recently modified their holdings of the business. Contravisory Investment Management Inc. acquired a new stake in shares of Simpson Manufacturing during the fourth quarter valued at about $29,000. Rise Advisors LLC acquired a new position in Simpson Manufacturing in the first quarter worth about $37,000. Headlands Technologies LLC acquired a new position in Simpson Manufacturing in the fourth quarter worth about $37,000. GAMMA Investing LLC acquired a new position in Simpson Manufacturing in the fourth quarter worth about $35,000. Finally, Arlington Trust Co LLC acquired a new position in Simpson Manufacturing in the third quarter worth about $31,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Simpson Manufacturing

In related news, Director Jennifer Chatman sold 934 shares of the stock in a transaction 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 directly owns 14,638 shares in the company, valued at approximately $2,817,522.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Phillip Burton sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total transaction of $422,780.00. Following the completion of the sale, the executive vice president now directly owns 4,044 shares in the company, valued at $854,861.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jennifer Chatman sold 934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the sale, the director now owns 14,638 shares of the company’s stock, valued at $2,817,522.24. The disclosure for this sale can be found here. In the last three months, insiders sold 3,784 shares of company stock worth $770,924. Corporate insiders own 0.42% of the company’s stock.

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.