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

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

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

Simpson Manufacturing Price Performance

Shares of SSD traded up $3.05 during mid-day trading on Wednesday, hitting $202.91. 146,911 shares of the stock were exchanged, compared to its average volume of 220,975. The firm has a 50-day moving average of $195.48 and a two-hundred day moving average of $173.50. Simpson Manufacturing has a 52-week low of $102.13 and a 52-week high of $218.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.11 and a current ratio of 3.63. The company has a market cap of $8.62 billion, a PE ratio of 24.57 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data 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 business had revenue of $501.70 million for the quarter, compared to the consensus estimate of $482.98 million. During the same quarter last year, the business earned $1.35 EPS. Simpson Manufacturing’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Simpson Manufacturing will post 8.74 earnings per share for the current year.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total transaction of $168,368.00. Following the completion of the transaction, the executive vice president now owns 28,764 shares in the company, valued at $5,697,573.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total transaction of $168,368.00. Following the completion of the sale, the executive vice president now directly owns 28,764 shares of the company’s stock, valued at $5,697,573.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction of $179,776.32. Following the sale, the director now owns 14,638 shares of the company’s stock, valued at approximately $2,817,522.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,634 shares of company stock worth $927,460. 0.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SSD. Contravisory Investment Management Inc. purchased a new stake in shares of Simpson Manufacturing in the 4th quarter worth $29,000. Headlands Technologies LLC bought a new position in Simpson Manufacturing during the 4th quarter worth about $37,000. GAMMA Investing LLC purchased a new position in Simpson Manufacturing during the 4th quarter valued at about $35,000. Arlington Trust Co LLC purchased a new position in Simpson Manufacturing during the 3rd quarter valued at about $31,000. Finally, 1832 Asset Management L.P. bought a new stake in shares of Simpson Manufacturing in the 1st quarter valued at about $27,000. Institutional investors own 93.68% of the company’s stock.

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.