Simpson Manufacturing (NYSE:SSD) Reaches New 52-Week Low - Here's Why

Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $154.47 and last traded at $154.91, with a volume of 29219 shares. The stock had previously closed at $157.17.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SSD. Robert W. Baird reduced their target price on Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. DA Davidson reduced their target price on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th.

Simpson Manufacturing Trading Up 0.8 %

The company has a market capitalization of $6.72 billion, a P/E ratio of 20.98 and a beta of 1.39. The business has a fifty day moving average price of $165.65 and a 200 day moving average price of $176.39. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. On average, analysts expect that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current fiscal year.

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Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 3rd. Simpson Manufacturing's dividend payout ratio is currently 14.74%.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the transaction, the executive vice president now owns 8,810 shares of the company's stock, valued at $1,497,523.80. The trade was a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Simpson Manufacturing

Institutional investors have recently bought and sold shares of the business. New York Life Investment Management LLC acquired a new position in Simpson Manufacturing during the fourth quarter worth approximately $738,000. Champlain Investment Partners LLC acquired a new position in Simpson Manufacturing during the third quarter worth approximately $16,060,000. Diversified Trust Co acquired a new position in Simpson Manufacturing during the fourth quarter worth approximately $591,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Simpson Manufacturing by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 487,118 shares of the construction company's stock worth $93,171,000 after acquiring an additional 6,585 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Simpson Manufacturing by 1.0% during the third quarter. Geode Capital Management LLC now owns 707,664 shares of the construction company's stock worth $135,390,000 after acquiring an additional 7,351 shares during the period. Institutional investors and hedge funds 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.