Simpson Manufacturing (NYSE:SSD) Shares Gap Down on Disappointing Earnings

Simpson Manufacturing Co., Inc. (NYSE:SSD - Get Free Report) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $186.15, but opened at $177.70. Simpson Manufacturing shares last traded at $173.96, with a volume of 81,229 shares.

The construction company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates of $2.40 by ($0.19). Simpson Manufacturing had a net margin of 15.03% and a return on equity of 19.42%. The business 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 firm posted $2.43 EPS. Simpson Manufacturing's revenue for the quarter was up 1.2% compared to the same quarter last year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, October 3rd. Simpson Manufacturing's dividend payout ratio is presently 14.04%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Roger Dankel sold 2,700 shares of the business's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $190.44, for a total transaction of $514,188.00. Following the completion of the sale, the executive vice president now directly owns 24,064 shares of the company's stock, valued at $4,582,748.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael Olosky sold 6,871 shares of Simpson Manufacturing 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 sale, the chief executive officer now owns 19,534 shares in the company, valued at $3,660,866.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Roger Dankel sold 2,700 shares of Simpson Manufacturing stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $190.44, for a total transaction of $514,188.00. Following the sale, the executive vice president now directly owns 24,064 shares in the company, valued at $4,582,748.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,571 shares of company stock worth $2,348,027. 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 modified their holdings of SSD. EntryPoint Capital LLC purchased a new position in Simpson Manufacturing in the first quarter valued at about $29,000. V Square Quantitative Management LLC purchased a new position in Simpson Manufacturing in the third quarter valued at about $34,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Simpson Manufacturing by 550.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 221 shares of the construction company's stock valued at $45,000 after purchasing an additional 187 shares during the last quarter. CWM LLC boosted its holdings in Simpson Manufacturing by 50.2% in the first quarter. CWM LLC now owns 323 shares of the construction company's stock valued at $66,000 after purchasing an additional 108 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Simpson Manufacturing by 93.9% during the 3rd quarter. GAMMA Investing LLC now owns 380 shares of the construction company's stock worth $73,000 after buying an additional 184 shares during the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Trading Down 5.5 %

The company has a current ratio of 3.69, a quick ratio of 2.21 and a debt-to-equity ratio of 0.25. The business's 50-day moving average is $184.26 and its two-hundred day moving average is $178.16. The firm has a market cap of $7.42 billion, a P/E ratio of 22.05 and a beta of 1.32.

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.