Simpson Manufacturing (NYSE:SSD) Hits New 52-Week Low – What’s Next?

Simpson Manufacturing Co., Inc. (NYSE:SSD)’s share price hit a new 52-week low on Thursday . The company traded as low as $147.34 and last traded at $147.53, with a volume of 21059 shares. The stock had previously closed at $158.55.

Analysts Set New Price Targets

A number of brokerages have recently commented on SSD. Robert W. Baird lowered their price objective on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. DA Davidson decreased their price target on Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th.

Simpson Manufacturing Stock Performance

The stock’s fifty day simple moving average is $163.27 and its two-hundred day simple moving average is $174.35. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 19.39 and a beta of 1.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 3.21.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. Equities research analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.74%.

Insider Activity at Simpson Manufacturing

In related news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total value of $169,980.00. Following the completion of the sale, the executive vice president now directly owns 8,810 shares in the company, valued at approximately $1,497,523.80. This represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Simpson Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of SSD. New York Life Investment Management LLC acquired a new position in Simpson Manufacturing during the 4th quarter worth approximately $738,000. Diversified Trust Co purchased a new stake in shares of Simpson Manufacturing during the fourth quarter valued at approximately $591,000. Geode Capital Management LLC lifted its position in shares of Simpson Manufacturing by 1.0% during the third quarter. Geode Capital Management LLC now owns 707,664 shares of the construction company’s stock worth $135,390,000 after purchasing an additional 7,351 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Simpson Manufacturing by 29.3% in the fourth quarter. Van ECK Associates Corp now owns 36,052 shares of the construction company’s stock valued at $5,979,000 after purchasing an additional 8,170 shares during the period. Finally, Financial Advocates Investment Management purchased a new position in shares of Simpson Manufacturing in the fourth quarter valued at $401,000. Hedge funds and other institutional investors own 93.68% 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.