Simpson Manufacturing (NYSE:SSD) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Simpson Manufacturing (NYSE:SSD) from a hold rating to a buy rating in a report issued on Wednesday.

Separately, Robert W. Baird upped their price objective on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the company an outperform rating in a report on Thursday, April 18th.

Simpson Manufacturing Stock Up 1.6 %

SSD stock opened at $173.55 on Wednesday. The firm’s fifty day simple moving average is $195.70 and its 200-day simple moving average is $179.05. The company has a market capitalization of $7.37 billion, a P/E ratio of 21.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.77 and a quick ratio of 2.11. Simpson Manufacturing has a 12 month low of $117.08 and a 12 month high of $218.38.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, April 22nd. The construction company reported $1.77 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.07). The business had revenue of $530.58 million during the quarter, compared to analysts’ expectations of $549.87 million. Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The firm’s revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. As a group, equities research analysts forecast that Simpson Manufacturing will post 8.44 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jennifer Chatman sold 934 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction of $179,776.32. Following the sale, the director now directly owns 14,638 shares of the company’s stock, valued at $2,817,522.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Roger Dankel sold 850 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total value of $168,368.00. Following the completion of the sale, the executive vice president now directly owns 28,764 shares in the company, valued at $5,697,573.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jennifer Chatman sold 934 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction of $179,776.32. Following the completion of the sale, the director now owns 14,638 shares of the company’s stock, valued at $2,817,522.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,784 shares of company stock valued at $770,924. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Simpson Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of SSD. Contravisory Investment Management Inc. acquired a new stake in shares of Simpson Manufacturing during the fourth quarter valued at about $29,000. Arlington Trust Co LLC purchased a new position in shares of Simpson Manufacturing in the third quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new position in shares of Simpson Manufacturing in the fourth quarter valued at approximately $35,000. Headlands Technologies LLC purchased a new position in shares of Simpson Manufacturing in the fourth quarter valued at approximately $37,000. Finally, Rise Advisors LLC purchased a new position in shares of Simpson Manufacturing in the first quarter valued at approximately $37,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

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.