Simpson Manufacturing (NYSE:SSD) Price Target Raised to $215.00

Simpson Manufacturing (NYSE:SSD) had its price objective hoisted by Stephens from $210.00 to $215.00 in a research note released on Tuesday, MarketBeat.com reports. Stephens currently has an equal weight rating on the construction company’s stock.

Several other equities analysts also recently commented on the stock. Robert W. Baird upped their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. DA Davidson raised their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Stifel Nicolaus boosted their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $216.00.

Simpson Manufacturing Stock Performance

SSD opened at $186.44 on Tuesday. The business has a fifty day simple moving average of $193.10 and a 200 day simple moving average of $187.37. The company has a market capitalization of $7.67 billion, a PE ratio of 20.38 and a beta of 1.30. Simpson Manufacturing has a 1 year low of $156.32 and a 1 year high of $213.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.02.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The firm had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. During the same period in the prior year, the firm posted $2.47 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts expect that Simpson Manufacturing will post 9.11 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio is 14.07%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after purchasing an additional 92 shares during the period. V Square Quantitative Management LLC bought a new position in Simpson Manufacturing in the 4th quarter valued at about $28,000. Los Angeles Capital Management LLC bought a new position in Simpson Manufacturing in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. acquired a new position in shares of Simpson Manufacturing in the 3rd quarter valued at approximately $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Simpson Manufacturing in the 1st quarter valued at approximately $37,000. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.