Simpson Manufacturing (NYSE:SSD) Posts Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Simpson Manufacturing reported **earnings per share of $2.47**, exceeding the estimated $2.39 by $0.08, with a **return on equity** of 17.80% and a **net margin** of 14.49%.
• The company declared a **quarterly dividend of $0.29 per share**, with an annualized dividend of $1.16 and a yield of 0.70%, set to be paid on October 23rd.
• Institutional investors hold **93.68%** of Simpson Manufacturing's stock, with significant increases in positions by firms like **Goldman Sachs** and **AQR Capital Management** during the first quarter.

Simpson Manufacturing (NYSE:SSD - Get Free Report) announced its quarterly earnings results on Monday. The construction company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.08, Zacks reports. The firm had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 EPS.

Simpson Manufacturing Trading Down 0.9%

Shares of NYSE SSD traded down $1.64 during mid-day trading on Friday, reaching $177.79. The company had a trading volume of 88,488 shares, compared to its average volume of 277,391. The business's 50-day moving average is $160.46 and its 200-day moving average is $160.07. The company has a current ratio of 3.37, a quick ratio of 1.54 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 22.61 and a beta of 1.28. Simpson Manufacturing has a 52 week low of $137.35 and a 52 week high of $197.82.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be issued a $0.29 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. Simpson Manufacturing's dividend payout ratio is presently 14.80%.

Wall Street Analyst Weigh In

Separately, DA Davidson raised their target price on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research note on Tuesday.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC lifted its position in shares of Simpson Manufacturing by 11.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock valued at $427,000 after buying an additional 286 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Simpson Manufacturing in the 1st quarter worth approximately $531,000. AQR Capital Management LLC increased its holdings in Simpson Manufacturing by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock worth $798,000 after buying an additional 1,726 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Simpson Manufacturing by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company's stock worth $19,022,000 after purchasing an additional 12,865 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Simpson Manufacturing by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock worth $33,327,000 after purchasing an additional 64,114 shares during the period. 93.68% of the stock is currently owned by 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.