Simpson Manufacturing’s (SSD) Hold Rating Reiterated at Zacks Investment Research

Simpson Manufacturing (NYSE:SSD)‘s stock had its “hold” rating restated by Zacks Investment Research in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Simpson Manufacturing Company Inc., headquartered in Pleasanton, California, through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products and software solutions, including connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing fiber materials. “

SSD traded up $0.60 during trading on Friday, reaching $66.46. The company’s stock had a trading volume of 847,508 shares, compared to its average volume of 156,594. Simpson Manufacturing has a 52-week low of $49.54 and a 52-week high of $78.36. The firm has a fifty day moving average of $64.44. The company has a market capitalization of $2.94 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 4.16 and a beta of 1.49.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, April 29th. The construction company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.02). Simpson Manufacturing had a net margin of 11.59% and a return on equity of 15.05%. The business had revenue of $259.20 million during the quarter, compared to analysts’ expectations of $255.80 million. During the same period in the prior year, the firm posted $0.54 EPS. Simpson Manufacturing’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts forecast that Simpson Manufacturing will post 3.17 EPS for the current fiscal year.

In other news, Director Greenway Robin Macgillivray sold 1,475 shares of Simpson Manufacturing stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $61.56, for a total transaction of $90,801.00. Following the completion of the sale, the director now directly owns 12,470 shares in the company, valued at approximately $767,653.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of SSD. FMR LLC grew its stake in Simpson Manufacturing by 9.0% in the 1st quarter. FMR LLC now owns 949,208 shares of the construction company’s stock worth $56,260,000 after acquiring an additional 78,490 shares during the period. Marshall Wace North America L.P. grew its stake in Simpson Manufacturing by 579.6% in the 1st quarter. Marshall Wace North America L.P. now owns 7,863 shares of the construction company’s stock worth $466,000 after acquiring an additional 6,706 shares during the period. Marshall Wace LLP purchased a new stake in Simpson Manufacturing in the 1st quarter worth approximately $1,210,000. Granite Investment Partners LLC grew its stake in Simpson Manufacturing by 46.9% in the 1st quarter. Granite Investment Partners LLC now owns 18,707 shares of the construction company’s stock worth $1,109,000 after acquiring an additional 5,975 shares during the period. Finally, William Blair Investment Management LLC grew its stake in Simpson Manufacturing by 4.6% in the 1st quarter. William Blair Investment Management LLC now owns 272,827 shares of the construction company’s stock worth $16,170,000 after acquiring an additional 12,007 shares during the period. Institutional investors own 89.68% of the company’s stock.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.

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