FY2024 Earnings Forecast for SSD Issued By DA Davidson

Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) - Equities research analysts at DA Davidson reduced their FY2024 earnings per share estimates for shares of Simpson Manufacturing in a report issued on Tuesday, October 22nd. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $7.55 per share for the year, down from their prior estimate of $8.10. The consensus estimate for Simpson Manufacturing's current full-year earnings is $8.10 per share. DA Davidson also issued estimates for Simpson Manufacturing's Q4 2024 earnings at $1.27 EPS.

Separately, Robert W. Baird increased their price target on Simpson Manufacturing from $202.00 to $218.00 and gave the stock an "outperform" rating in a report on Monday.

Simpson Manufacturing Trading Up 0.3 %

Simpson Manufacturing stock traded up $0.50 during midday trading on Wednesday, reaching $176.48. The stock had a trading volume of 232,106 shares, compared to its average volume of 282,176. Simpson Manufacturing has a 52-week low of $123.93 and a 52-week high of $218.38. The company has a fifty day moving average of $184.29 and a 200 day moving average of $178.03. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 22.12 and a beta of 1.32. The company has a quick ratio of 2.21, a current ratio of 3.69 and a debt-to-equity ratio of 0.25.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.19). Simpson Manufacturing had a net margin of 15.03% and a return on equity of 19.42%. The firm had revenue of $587.15 million during the quarter, compared to analysts' expectations of $589.00 million. During the same period in the prior year, the company posted $2.43 EPS. The company's revenue was up 1.2% compared to the same quarter last year.

Hedge Funds Weigh In On Simpson Manufacturing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC grew its holdings in Simpson Manufacturing by 0.7% in the second quarter. SkyView Investment Advisors LLC now owns 9,161 shares of the construction company's stock worth $1,544,000 after purchasing an additional 67 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Simpson Manufacturing by 1.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,136 shares of the construction company's stock valued at $697,000 after buying an additional 72 shares in the last quarter. Jennison Associates LLC raised its stake in Simpson Manufacturing by 1.8% in the first quarter. Jennison Associates LLC now owns 5,023 shares of the construction company's stock valued at $1,031,000 after buying an additional 90 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Simpson Manufacturing by 4.3% in the first quarter. Private Advisor Group LLC now owns 2,199 shares of the construction company's stock worth $451,000 after acquiring an additional 91 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Simpson Manufacturing by 4.0% during the third quarter. Inspire Investing LLC now owns 2,437 shares of the construction company's stock worth $466,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company's stock.

Insider Buying and Selling at Simpson Manufacturing

In related news, CEO Michael Olosky sold 6,871 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $187.41, for a total value of $1,287,694.11. Following the transaction, the chief executive officer now owns 19,534 shares of the company's stock, valued at $3,660,866.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Roger Dankel sold 2,700 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $190.44, for a total value of $514,188.00. Following the completion of the sale, the executive vice president now owns 24,064 shares of the company's stock, valued at approximately $4,582,748.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Olosky sold 6,871 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $187.41, for a total transaction of $1,287,694.11. Following the transaction, the chief executive officer now owns 19,534 shares in the company, valued at approximately $3,660,866.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,571 shares of company stock valued at $2,348,027 in the last three months. Company insiders own 0.42% of the company's stock.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. Simpson Manufacturing's payout ratio is 14.04%.

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.