Simpson Manufacturing (NYSE:SSD) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Simpson Manufacturing stock crossed above its 200-day moving average
• Analysts are mixed but cautious — the consensus rating is Hold with an average target of $207.33 and individual price targets roughly between $200 and $222, alongside a few recent downgrades.
• The company posted quarterly beats (EPS $1.35 vs. $1.26 est., revenue $539.35M vs. $530.7M), pays a $0.29 quarterly dividend (annualized yield ~0.7%, 14% payout ratio), and about 93.7% of shares are held by institutions.

Simpson Manufacturing Company, Inc. (NYSE:SSD - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $176.13 and traded as high as $179.54. Simpson Manufacturing shares last traded at $177.6580, with a volume of 211,198 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SSD shares. DA Davidson lifted their price objective on Simpson Manufacturing from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Wednesday, February 11th. Wall Street Zen cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Robert W. Baird set a $222.00 price objective on Simpson Manufacturing in a research report on Tuesday, February 10th. Stephens set a $200.00 price objective on Simpson Manufacturing in a research report on Tuesday, February 10th. Finally, Weiss Ratings cut Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Simpson Manufacturing currently has an average rating of "Hold" and an average target price of $207.33.

Simpson Manufacturing Stock Performance

The firm has a market capitalization of $7.32 billion, a PE ratio of 21.53 and a beta of 1.37. The company has a current ratio of 3.54, a quick ratio of 1.99 and a debt-to-equity ratio of 0.18. The business's 50 day simple moving average is $184.90 and its two-hundred day simple moving average is $176.13.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. The firm had revenue of $539.35 million during the quarter, compared to analyst estimates of $530.70 million. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.Simpson Manufacturing's revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 EPS. Research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, April 2nd. Simpson Manufacturing's dividend payout ratio is 14.06%.

Institutional Investors Weigh In On Simpson Manufacturing

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted 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. Integrated Wealth Concepts LLC boosted its holdings in Simpson Manufacturing by 11.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock worth $427,000 after buying an additional 286 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Simpson Manufacturing in the 1st quarter worth $531,000. Goldman Sachs Group Inc. boosted its holdings in Simpson Manufacturing by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock worth $33,327,000 after buying an additional 64,114 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Simpson Manufacturing by 11.9% in 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 buying an additional 12,865 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.

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