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 weaker than expected earnings announcement. The stock had previously closed at $186.15, but opened at $177.70. Simpson Manufacturing shares last traded at $173.96, with a volume of 81,229 shares.

The construction company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). Simpson Manufacturing had a return on equity of 19.42% and a net margin of 15.03%. The business had revenue of $587.15 million for the quarter, compared to analyst estimates of $589.00 million. During the same quarter last year, the company earned $2.43 earnings per share. Simpson Manufacturing’s quarterly revenue was up 1.2% compared to the same quarter last year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.12 annualized dividend and a yield of 0.63%. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.04%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, EVP Jennifer Lutz sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $175.58, for a total transaction of $175,580.00. Following the completion of the sale, the executive vice president now owns 4,033 shares in the company, valued at approximately $708,114.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Simpson Manufacturing news, Director James S. Andrasick sold 500 shares of Simpson Manufacturing stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $178.75, for a total transaction of $89,375.00. Following the transaction, the director now owns 866 shares of the company’s stock, valued at $154,797.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jennifer Lutz sold 1,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $175.58, for a total transaction of $175,580.00. Following the sale, the executive vice president now owns 4,033 shares of the company’s stock, valued at approximately $708,114.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,571 shares of company stock worth $2,348,027. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simpson Manufacturing

Several institutional investors have recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC raised its position 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 worth $1,544,000 after buying an additional 67 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Simpson Manufacturing by 1.8% in the second quarter. Commonwealth Equity Services LLC now owns 4,136 shares of the construction company’s stock valued at $697,000 after purchasing an additional 72 shares during the period. Jennison Associates LLC boosted its holdings in Simpson Manufacturing by 1.8% in the 1st quarter. Jennison Associates LLC now owns 5,023 shares of the construction company’s stock valued at $1,031,000 after purchasing an additional 90 shares in the last quarter. Private Advisor Group LLC increased its position in Simpson Manufacturing by 4.3% during the 1st quarter. Private Advisor Group LLC now owns 2,199 shares of the construction company’s stock worth $451,000 after purchasing an additional 91 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of 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 buying an additional 94 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Stock Down 5.2 %

The firm has a fifty day moving average price of $183.96 and a 200 day moving average price of $178.20. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 21.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.21 and a current ratio of 3.69.

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.