Simpson Manufacturing's (SSD) Hold (C+) Rating Reiterated at Weiss Ratings

Key Points

• Simpson Manufacturing's stock has been reiterated with a "hold (C+)" rating by Weiss Ratings, while DA Davidson increased its target price from $185.00 to $190.00, maintaining a "neutral" rating.
• The company reported a quarterly earnings of $2.47 per share, exceeding estimates, with revenue of $631.06 million, marking a 5.7% increase compared to the previous year.
• Recent transactions by company executives indicate a decrease in their stock holdings, with one EVP selling 1,000 shares at an average price of $196.13.

Simpson Manufacturing (NYSE:SSD - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, DA Davidson increased their target price on Simpson Manufacturing from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Simpson Manufacturing has an average rating of "Hold" and an average target price of $191.00.

Simpson Manufacturing Stock Up 1.7%

Shares of Simpson Manufacturing stock traded up $2.95 during midday trading on Wednesday, hitting $173.12. The company had a trading volume of 250,304 shares, compared to its average volume of 293,165. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The stock has a market capitalization of $7.21 billion, a P/E ratio of 22.08 and a beta of 1.28. The company has a 50 day moving average of $184.10 and a 200 day moving average of $166.39. Simpson Manufacturing has a 52-week low of $137.35 and a 52-week high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.08. The company had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 EPS. On average, equities analysts predict that Simpson Manufacturing will post 8.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael Andersen sold 1,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the transaction, the executive vice president directly owned 7,810 shares in the company, valued at $1,531,775.30. This trade represents a 11.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeremy Gilstrap sold 2,500 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the transaction, the executive vice president owned 7,794 shares in the company, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company's stock.

Hedge Funds Weigh In On Simpson Manufacturing

A number of institutional investors have recently bought and sold shares of SSD. Norges Bank bought a new position in Simpson Manufacturing in the 2nd quarter worth $77,528,000. Rivulet Capital LLC bought a new position in Simpson Manufacturing in the 2nd quarter worth $40,932,000. First Trust Advisors LP raised its holdings in Simpson Manufacturing by 33.6% in the 2nd quarter. First Trust Advisors LP now owns 514,406 shares of the construction company's stock worth $79,893,000 after purchasing an additional 129,354 shares during the period. Nuveen LLC bought a new position in Simpson Manufacturing in the 1st quarter worth $15,567,000. Finally, Champlain Investment Partners LLC raised its holdings in Simpson Manufacturing by 24.2% in the 2nd quarter. Champlain Investment Partners LLC now owns 501,850 shares of the construction company's stock worth $77,942,000 after purchasing an additional 97,856 shares during the period. 93.68% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.