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

Simpson Manufacturing Co., Inc. (NYSE:SSD) shares gapped up prior to trading on Tuesday following a better than expected earnings announcement. 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.

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 return on equity of 18.29% and a net margin of 14.51%.

Simpson Manufacturing Dividend Announcement

The business 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 0.66%. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.80%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price objective on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research report on Tuesday.

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Roger Dankel sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $183.06, for a total transaction of $45,765.00. Following the sale, the executive vice president now directly owns 23,814 shares of the company’s stock, valued at $4,359,390.84. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.

Institutional Trading of Simpson Manufacturing

Several institutional investors have recently modified their holdings of SSD. Riverbridge Partners LLC acquired a new position in Simpson Manufacturing during the 4th quarter worth about $58,414,000. FMR LLC lifted its stake in shares of Simpson Manufacturing by 24.2% in the third quarter. FMR LLC now owns 1,710,358 shares of the construction company’s stock worth $327,140,000 after acquiring an additional 333,390 shares during the period. Raymond James Financial Inc. bought a new stake in Simpson Manufacturing in the fourth quarter valued at approximately $54,644,000. EP Wealth Advisors LLC increased its position in Simpson Manufacturing by 1,020.1% during the 3rd quarter. EP Wealth Advisors LLC now owns 139,828 shares of the construction company’s stock valued at $26,745,000 after purchasing an additional 127,345 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in Simpson Manufacturing during the 4th quarter valued at approximately $15,603,000. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Trading Up 2.5 %

The stock has a market cap of $7.21 billion, a P/E ratio of 22.59 and a beta of 1.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.99 and a current ratio of 3.53. The firm’s fifty day simple moving average is $170.24 and its 200-day simple moving average is $178.89.

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.