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Simpson Manufacturing (NYSE:SSD) Reaches New 52-Week Low at $87.55

Financial News Live · Sep 13, 2022 11:02

Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Rating)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $87.55 and last traded at $88.10, with a volume of 156 shares. The stock had previously closed at $91.15.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Simpson Manufacturing from a "hold" rating to a "buy" rating in a research report on Thursday, August 4th.

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Simpson Manufacturing Price Performance

The company has a 50-day simple moving average of $100.90 and a 200-day simple moving average of $104.93. The stock has a market cap of $3.72 billion, a PE ratio of 11.92 and a beta of 1.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.33 and a quick ratio of 1.84.

Simpson Manufacturing (NYSE:SSD – Get Rating) last announced its quarterly earnings results on Monday, July 25th. The construction company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.15. Simpson Manufacturing had a return on equity of 27.51% and a net margin of 17.44%. The business had revenue of $593.23 million during the quarter, compared to analysts' expectations of $579.84 million. During the same quarter last year, the business posted $1.66 earnings per share. The business's revenue for the quarter was up 44.6% on a year-over-year basis. Sell-side analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.35 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Thursday, October 6th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, October 5th. Simpson Manufacturing's dividend payout ratio is currently 13.59%.

Insider Activity

In other news, insider Roger Dankel sold 600 shares of the firm's stock in a transaction on Friday, July 8th. The stock was sold at an average price of $105.00, for a total value of $63,000.00. Following the completion of the transaction, the insider now owns 31,212 shares in the company, valued at $3,277,260. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Brian J. Magstadt sold 2,500 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the chief financial officer now owns 20,047 shares of the company's stock, valued at $2,004,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Roger Dankel sold 600 shares of the stock in a transaction on Friday, July 8th. The shares were sold at an average price of $105.00, for a total value of $63,000.00. Following the sale, the insider now directly owns 31,212 shares in the company, valued at approximately $3,277,260. The disclosure for this sale can be found here. Insiders sold a total of 5,600 shares of company stock worth $568,975 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Simpson Manufacturing

A number of large investors have recently made changes to their positions in SSD. MetLife Investment Management LLC boosted its stake in Simpson Manufacturing by 39.6% in the 1st quarter. MetLife Investment Management LLC now owns 50,466 shares of the construction company's stock worth $5,503,000 after buying an additional 14,306 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Simpson Manufacturing by 596.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,590 shares of the construction company's stock worth $360,000 after buying an additional 2,218 shares during the last quarter. Schroder Investment Management Group boosted its stake in Simpson Manufacturing by 17.2% in the 4th quarter. Schroder Investment Management Group now owns 196,456 shares of the construction company's stock worth $27,321,000 after buying an additional 28,883 shares during the last quarter. Signaturefd LLC boosted its stake in Simpson Manufacturing by 115.3% in the 1st quarter. Signaturefd LLC now owns 239 shares of the construction company's stock worth $26,000 after buying an additional 128 shares during the last quarter. Finally, Hancock Whitney Corp acquired a new stake in Simpson Manufacturing in the 1st quarter worth about $1,876,000. Institutional investors and hedge funds own 89.52% of the company's stock.

Simpson Manufacturing Company Profile

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Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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.