Zacks: Brokerages Anticipate Simpson Manufacturing Co, Inc. (SSD) Will Announce Quarterly Sales of $225.48 Million
Equities research analysts expect that Simpson Manufacturing Co, Inc. (NYSE:SSD) will report $225.48 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Simpson Manufacturing’s earnings, with estimates ranging from $218.56 million to $232.40 million. Simpson Manufacturing posted sales of $200.19 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.6%. The business is scheduled to report its next earnings results on Thursday, February 1st.
On average, analysts expect that Simpson Manufacturing will report full year sales of $225.48 million for the current year, with estimates ranging from $963.91 million to $977.80 million. For the next financial year, analysts expect that the business will post sales of $1.04 billion per share, with estimates ranging from $1.04 billion to $1.05 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Simpson Manufacturing.
A number of brokerages recently issued reports on SSD. DA Davidson cut shares of Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Thursday, December 14th. Robert W. Baird upgraded shares of Simpson Manufacturing from a “neutral” rating to an “outperform” rating and upped their price target for the company from $50.00 to $58.00 in a report on Tuesday, October 31st.
In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 72,424 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $200,724.00, for a total transaction of $14,537,234,976.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sharon H. Simpson sold 76,803 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $58.28, for a total transaction of $4,476,078.84. The disclosure for this sale can be found here. Insiders have sold 1,087,124 shares of company stock valued at $14,588,677,541 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new stake in shares of Simpson Manufacturing in the second quarter valued at about $72,714,000. Franklin Resources Inc. lifted its stake in shares of Simpson Manufacturing by 11.0% in the second quarter. Franklin Resources Inc. now owns 3,010,385 shares of the construction company’s stock valued at $131,584,000 after buying an additional 297,244 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Simpson Manufacturing by 10.4% in the second quarter. Wells Fargo & Company MN now owns 1,623,796 shares of the construction company’s stock valued at $70,977,000 after buying an additional 153,164 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Simpson Manufacturing by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 1,202,427 shares of the construction company’s stock valued at $52,558,000 after buying an additional 144,623 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in shares of Simpson Manufacturing in the second quarter valued at about $6,285,000. Institutional investors own 84.49% of the company’s stock.
Shares of Simpson Manufacturing (SSD) traded down $0.43 during trading hours on Friday, reaching $57.66. 139,385 shares of the company were exchanged, compared to its average volume of 226,075. The company has a market capitalization of $2,748.45, a PE ratio of 28.54, a PEG ratio of 6.20 and a beta of 1.52. Simpson Manufacturing has a 12-month low of $39.82 and a 12-month high of $61.62.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Thursday, January 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Wednesday, January 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is 41.58%.
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Simpson Manufacturing Company Profile
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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