DA Davidson Has Pessimistic Outlook of SSD FY2024 Earnings

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Stock analysts at DA Davidson reduced their FY2024 earnings per share estimates for shares of Simpson Manufacturing in a report issued on Tuesday, October 22nd. DA Davidson analyst K. Yinger now anticipates that the construction company will post earnings per share of $7.55 for the year, down from their prior estimate of $8.10. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.10 per share. DA Davidson also issued estimates for Simpson Manufacturing’s Q4 2024 earnings at $1.27 EPS.

Separately, Robert W. Baird lifted their target price on Simpson Manufacturing from $202.00 to $218.00 and gave the company an “outperform” rating in a research report on Monday.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $175.98 on Wednesday. Simpson Manufacturing has a fifty-two week low of $123.93 and a fifty-two week high of $218.38. The company has a market capitalization of $7.42 billion, a PE ratio of 22.05 and a beta of 1.32. The company has a 50 day moving average price of $184.29 and a 200-day moving average price of $178.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.21 and a current ratio of 3.69.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, October 21st. The construction company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.19). The company had revenue of $587.15 million during the quarter, compared to analysts’ expectations of $589.00 million. Simpson Manufacturing had a return on equity of 19.42% and a net margin of 15.03%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.43 EPS.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, October 3rd. Simpson Manufacturing’s payout ratio is 14.04%.

Insider Buying and Selling

In other news, CEO Michael Olosky sold 6,871 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $187.41, for a total value of $1,287,694.11. Following the sale, the chief executive officer now directly owns 19,534 shares in the company, valued at approximately $3,660,866.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Roger Dankel sold 2,700 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $190.44, for a total transaction of $514,188.00. Following the transaction, the executive vice president now owns 24,064 shares in the company, valued at $4,582,748.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Olosky sold 6,871 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $187.41, for a total transaction of $1,287,694.11. Following the sale, the chief executive officer now directly owns 19,534 shares in the company, valued at approximately $3,660,866.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,571 shares of company stock valued at $2,348,027 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Simpson Manufacturing

A number of large investors have recently made changes to their positions in SSD. SkyView Investment Advisors LLC grew its stake in Simpson Manufacturing by 0.7% during the 2nd quarter. SkyView Investment Advisors LLC now owns 9,161 shares of the construction company’s stock valued at $1,544,000 after purchasing an additional 67 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Simpson Manufacturing by 1.8% in the second quarter. Commonwealth Equity Services LLC now owns 4,136 shares of the construction company’s stock worth $697,000 after acquiring an additional 72 shares during the period. Jennison Associates LLC raised its holdings in shares of Simpson Manufacturing by 1.8% during the first quarter. Jennison Associates LLC now owns 5,023 shares of the construction company’s stock worth $1,031,000 after purchasing an additional 90 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Simpson Manufacturing by 4.3% in the first quarter. Private Advisor Group LLC now owns 2,199 shares of the construction company’s stock valued at $451,000 after purchasing an additional 91 shares during the last quarter. Finally, Inspire Investing LLC grew its position in Simpson Manufacturing by 4.0% during the 3rd quarter. Inspire Investing LLC now owns 2,437 shares of the construction company’s stock worth $466,000 after purchasing an additional 94 shares during the period. 93.68% of the stock is owned by hedge funds and other institutional investors.

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.