Short Interest in Simpson Manufacturing Co., Inc. (NYSE:SSD) Drops By 15.9%

Simpson Manufacturing Co., Inc. (NYSE:SSD) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 857,700 shares, a drop of 15.9% from the October 31st total of 1,020,000 shares. Based on an average daily trading volume, of 218,000 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.0% of the company’s stock are sold short.

Simpson Manufacturing Stock Up 0.9 %

Shares of Simpson Manufacturing stock opened at $188.40 on Friday. The business has a 50-day moving average price of $186.53 and a 200 day moving average price of $178.79. Simpson Manufacturing has a fifty-two week low of $157.42 and a fifty-two week high of $218.38. The firm has a market cap of $7.94 billion, a P/E ratio of 24.89 and a beta of 1.32. The company has a quick ratio of 1.99, a current ratio of 3.53 and a debt-to-equity ratio of 0.24.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The business had revenue of $587.15 million for the quarter, compared to analyst estimates of $589.00 million. During the same period last year, the company posted $2.43 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Simpson Manufacturing will post 7.55 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be paid a $0.28 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. Simpson Manufacturing’s payout ratio is currently 14.80%.

Institutional Trading of Simpson Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in SSD. FMR LLC lifted its stake in Simpson Manufacturing by 24.2% in the third quarter. FMR LLC now owns 1,710,358 shares of the construction company’s stock valued at $327,140,000 after buying an additional 333,390 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Simpson Manufacturing in the 2nd quarter valued at about $35,884,000. The Manufacturers Life Insurance Company grew its position in Simpson Manufacturing by 336.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 224,517 shares of the construction company’s stock worth $37,838,000 after purchasing an additional 173,097 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of Simpson Manufacturing by 1,020.1% in the third quarter. EP Wealth Advisors LLC now owns 139,828 shares of the construction company’s stock valued at $26,745,000 after purchasing an additional 127,345 shares during the period. Finally, Nia Impact Advisors LLC bought a new stake in shares of Simpson Manufacturing during the second quarter valued at approximately $15,010,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird upped their price target on shares of Simpson Manufacturing from $202.00 to $218.00 and gave the company an “outperform” rating in a report on Monday, October 21st.

Simpson Manufacturing Company Profile

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.