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

Simpson Manufacturing Co., Inc. (NYSE:SSD) shares gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $180.66, but opened at $173.40. Simpson Manufacturing shares last traded at $176.87, with a volume of 84,472 shares traded.

The construction company reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.13). Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The firm had revenue of $596.98 million during the quarter, compared to analyst estimates of $604.67 million. During the same period in the prior year, the company earned $2.50 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year.

Simpson Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 4th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, July 3rd. Simpson Manufacturing’s dividend payout ratio is currently 14.04%.

Wall Street Analyst Weigh In

SSD has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. StockNews.com downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd.

Insider Activity

In other news, EVP Jennifer Lutz sold 750 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $171.14, for a total transaction of $128,355.00. Following the completion of the sale, the executive vice president now directly owns 5,033 shares in the company, valued at approximately $861,347.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Roger Dankel sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $175.13, for a total transaction of $350,260.00. Following the completion of the sale, the executive vice president now directly owns 26,764 shares in the company, valued at approximately $4,687,179.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jennifer Lutz sold 750 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $171.14, for a total value of $128,355.00. Following the sale, the executive vice president now owns 5,033 shares of the company’s stock, valued at $861,347.62. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of Simpson Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC bought a new position in Simpson Manufacturing in the first quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in shares of Simpson Manufacturing during the fourth quarter valued at about $35,000. Headlands Technologies LLC acquired a new stake in Simpson Manufacturing during the 4th quarter worth approximately $37,000. Rise Advisors LLC bought a new stake in Simpson Manufacturing during the 1st quarter worth approximately $37,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Simpson Manufacturing by 550.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 221 shares of the construction company’s stock worth $45,000 after acquiring an additional 187 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.19 and a current ratio of 3.77. The stock has a market capitalization of $7.47 billion, a P/E ratio of 22.64 and a beta of 1.32. The stock’s fifty day simple moving average is $169.98 and its two-hundred day simple moving average is $183.00.

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.