Simpson Manufacturing (NYSE:SSD) Hits New 1-Year Low – Here’s Why

Simpson Manufacturing Co., Inc. (NYSE:SSD)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $152.87 and last traded at $153.01, with a volume of 67569 shares trading hands. The stock had previously closed at $156.76.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. DA Davidson reduced their target price on shares of Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Robert W. Baird reduced their target price on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th.

Simpson Manufacturing Stock Performance

The stock’s 50 day moving average price is $165.38 and its 200 day moving average price is $175.64. The company has a current ratio of 3.21, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 20.46 and a beta of 1.39.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. On average, analysts expect that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

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 0.72%. The ex-dividend date is Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.74%.

Insider Buying and Selling

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

Institutional Trading of Simpson Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the business. New York Life Investment Management LLC acquired a new stake in Simpson Manufacturing during the 4th quarter worth approximately $738,000. Champlain Investment Partners LLC purchased a new position in Simpson Manufacturing in the 3rd quarter worth approximately $16,060,000. Diversified Trust Co purchased a new position in Simpson Manufacturing in the 4th quarter worth approximately $591,000. Charles Schwab Investment Management Inc. boosted its holdings in Simpson Manufacturing by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,118 shares of the construction company’s stock worth $93,171,000 after acquiring an additional 6,585 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Simpson Manufacturing by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 707,664 shares of the construction company’s stock worth $135,390,000 after acquiring an additional 7,351 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.

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.