Simpson Manufacturing (NYSE:SSD) Downgraded by StockNews.com

Simpson Manufacturing (NYSE:SSD) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, Robert W. Baird boosted their price target on Simpson Manufacturing from $198.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th.

Simpson Manufacturing Stock Performance

Shares of SSD stock traded up $3.05 during trading hours on Wednesday, reaching $202.91. 146,911 shares of the company’s stock were exchanged, compared to its average volume of 220,975. Simpson Manufacturing has a fifty-two week low of $102.13 and a fifty-two week high of $218.38. The company has a quick ratio of 2.11, a current ratio of 3.63 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $8.62 billion, a P/E ratio of 24.57 and a beta of 1.31. The business has a fifty day moving average price of $195.48 and a 200-day moving average price of $173.50.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, February 5th. The construction company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.25). Simpson Manufacturing had a net margin of 15.99% and a return on equity of 22.06%. The company had revenue of $501.70 million for the quarter, compared to analyst estimates of $482.98 million. During the same quarter in the previous year, the company earned $1.35 earnings per share. Simpson Manufacturing’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts predict that Simpson Manufacturing will post 8.74 EPS for the current fiscal year.

Insider Activity

In other news, EVP Roger Dankel sold 850 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $184.16, for a total value of $156,536.00. Following the sale, the executive vice president now directly owns 27,330 shares in the company, valued at approximately $5,033,092.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the transaction, the director now directly owns 14,638 shares of the company’s stock, valued at approximately $2,817,522.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Roger Dankel sold 850 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $184.16, for a total value of $156,536.00. Following the sale, the executive vice president now directly owns 27,330 shares of the company’s stock, valued at $5,033,092.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,634 shares of company stock worth $927,460. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of Simpson Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in SSD. BlackRock Inc. increased its holdings in shares of Simpson Manufacturing by 1.8% in the second quarter. BlackRock Inc. now owns 5,001,431 shares of the construction company’s stock worth $692,698,000 after acquiring an additional 90,786 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Simpson Manufacturing by 2.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,619,073 shares of the construction company’s stock worth $506,435,000 after acquiring an additional 118,070 shares during the period. Vanguard Group Inc. lifted its position in Simpson Manufacturing by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,208,812 shares of the construction company’s stock valued at $833,261,000 after acquiring an additional 49,142 shares in the last quarter. Capital International Investors boosted its stake in Simpson Manufacturing by 9.5% in the 1st quarter. Capital International Investors now owns 2,083,514 shares of the construction company’s stock worth $227,186,000 after purchasing an additional 180,856 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Simpson Manufacturing by 3.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,857,419 shares of the construction company’s stock worth $203,647,000 after purchasing an additional 59,800 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

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.