Simpson Manufacturing (NYSE:SSD) Shares Gap Up After Better-Than-Expected Earnings

Simpson Manufacturing Co., Inc. (NYSE:SSD - Get Free Report)'s stock price gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $166.88, but opened at $176.41. Simpson Manufacturing shares last traded at $173.03, with a volume of 27,968 shares trading hands.

The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.04. Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%.

Simpson Manufacturing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. Simpson Manufacturing's payout ratio is 14.80%.

Analyst Ratings Changes

Separately, Robert W. Baird reduced their target price on shares of Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating for the company in a report on Tuesday.

Insider Buying and Selling

In related news, EVP Roger Dankel sold 250 shares of the stock in a transaction dated Wednesday, December 4th. The shares were 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 of the company's stock, valued at $4,359,390.84. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SSD. Champlain Investment Partners LLC purchased a new position in Simpson Manufacturing in the third quarter valued at about $16,060,000. Diversified Trust Co purchased a new position in Simpson Manufacturing in the fourth quarter valued at about $591,000. US Bancorp DE increased its holdings in Simpson Manufacturing by 9.1% in the third quarter. US Bancorp DE now owns 4,213 shares of the construction company's stock valued at $806,000 after buying an additional 352 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Simpson Manufacturing by 8,883.3% in the third quarter. International Assets Investment Management LLC now owns 5,929 shares of the construction company's stock valued at $1,134,000 after buying an additional 5,863 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Simpson Manufacturing by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 487,118 shares of the construction company's stock valued at $93,171,000 after buying an additional 6,585 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Up 4.0 %

The firm's 50-day moving average price is $169.31 and its 200 day moving average price is $178.56. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 22.98 and a beta of 1.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.53 and a quick ratio of 1.99.

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.