Robert W. Baird Increases Simpson Manufacturing (NYSE:SSD) Price Target to $218.00

Simpson Manufacturing (NYSE:SSD) had its target price lifted by Robert W. Baird from $202.00 to $218.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Simpson Manufacturing Trading Up 3.1 %

NYSE SSD opened at $181.96 on Monday. The company has a quick ratio of 2.21, a current ratio of 3.53 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.67 billion, a PE ratio of 24.04 and a beta of 1.32. The company has a 50 day moving average price of $184.45 and a 200 day moving average price of $178.04. Simpson Manufacturing has a 52 week low of $124.50 and a 52 week high of $218.38.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.19). Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The firm had revenue of $587.15 million for the quarter, compared to the consensus estimate of $589.00 million. During the same quarter last year, the firm earned $2.43 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Simpson Manufacturing will post 7.55 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. Simpson Manufacturing’s payout ratio is 14.80%.

Insider Transactions at Simpson Manufacturing

In other news, CEO Michael Olosky sold 6,871 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $187.41, for a total value of $1,287,694.11. Following the sale, the chief executive officer now owns 19,534 shares in the company, valued at $3,660,866.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael Olosky sold 6,871 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $187.41, for a total transaction of $1,287,694.11. Following the sale, the chief executive officer now directly owns 19,534 shares of the company’s stock, valued at approximately $3,660,866.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Roger Dankel sold 2,700 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $190.44, for a total transaction of $514,188.00. Following the sale, the executive vice president now directly owns 24,064 shares in the company, valued at $4,582,748.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,571 shares of company stock worth $2,348,027 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of Simpson Manufacturing

A number of hedge funds have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC lifted its holdings in Simpson Manufacturing by 0.7% during the second quarter. SkyView Investment Advisors LLC now owns 9,161 shares of the construction company’s stock valued at $1,544,000 after purchasing an additional 67 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Simpson Manufacturing by 1.8% during the second quarter. Commonwealth Equity Services LLC now owns 4,136 shares of the construction company’s stock valued at $697,000 after purchasing an additional 72 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Simpson Manufacturing by 1.8% in the first quarter. Jennison Associates LLC now owns 5,023 shares of the construction company’s stock worth $1,031,000 after buying an additional 90 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Simpson Manufacturing by 4.3% in the first quarter. Private Advisor Group LLC now owns 2,199 shares of the construction company’s stock worth $451,000 after buying an additional 91 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Simpson Manufacturing by 4.0% in the third quarter. Inspire Investing LLC now owns 2,437 shares of the construction company’s stock worth $466,000 after buying an additional 94 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other 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.