Simpson Manufacturing (NYSE:SSD) Reaches New 12-Month Low - Here's What Happened

Simpson Manufacturing Co., Inc. (NYSE:SSD - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $155.78 and last traded at $158.50, with a volume of 24688 shares changing hands. The stock had previously closed at $159.08.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their price objective on Simpson Manufacturing from $202.00 to $218.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st.

Simpson Manufacturing Trading Down 0.7 %

The company has a quick ratio of 1.99, a current ratio of 3.53 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 20.87 and a beta of 1.35. The company's 50-day moving average is $178.12 and its 200-day moving average is $179.94.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $2.40 by ($0.19). The business had revenue of $587.15 million during the quarter, compared to analyst estimates of $589.00 million. Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.43 earnings per share. Research analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 2nd will be issued a $0.28 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.12 annualized dividend and a yield of 0.71%. Simpson Manufacturing's dividend payout ratio (DPR) is currently 14.80%.

Insiders Place Their Bets

In other news, EVP Roger Dankel sold 250 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $183.06, for a total transaction of $45,765.00. Following the completion of the transaction, the executive vice president now directly owns 23,814 shares in the company, valued at $4,359,390.84. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simpson Manufacturing

Several hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC acquired a new stake in shares of Simpson Manufacturing during the third quarter worth about $30,000. V Square Quantitative Management LLC purchased a new stake in Simpson Manufacturing during the 3rd quarter worth approximately $34,000. Prospera Private Wealth LLC acquired a new stake in Simpson Manufacturing during the 3rd quarter worth approximately $37,000. Millburn Ridgefield Corp purchased a new position in Simpson Manufacturing in the 3rd quarter valued at approximately $51,000. Finally, Huntington National Bank increased its holdings in Simpson Manufacturing by 73.2% during the 3rd quarter. Huntington National Bank now owns 336 shares of the construction company's stock worth $64,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 93.68% of the company's stock.

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.