Simpson Manufacturing (NYSE:SSD) Shares Gap Down After Earnings Miss

Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. 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 trading hands.

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 net margin of 15.03% and a return on equity of 19.42%. The company had revenue of $587.15 million during the quarter, compared to analysts’ expectations of $589.00 million. During the same quarter in the prior year, the business posted $2.43 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year.

Simpson Manufacturing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

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

Insider Activity at Simpson Manufacturing

In related news, EVP Roger Dankel sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $190.44, for a total value of $514,188.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James S. Andrasick sold 500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total transaction of $89,375.00. Following the sale, the director now owns 866 shares in the company, valued at approximately $154,797.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Roger Dankel sold 2,700 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $190.44, for a total transaction of $514,188.00. Following the completion of the transaction, the executive vice president now owns 24,064 shares of the company’s stock, valued at approximately $4,582,748.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,571 shares of company stock valued at $2,348,027 in the last ninety days. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SSD. EntryPoint Capital LLC purchased a new stake in Simpson Manufacturing in the 1st quarter valued at $29,000. V Square Quantitative Management LLC acquired a new position in shares of Simpson Manufacturing during the 3rd quarter valued at about $34,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Simpson Manufacturing by 550.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 221 shares of the construction company’s stock valued at $45,000 after purchasing an additional 187 shares during the period. CWM LLC increased its position in Simpson Manufacturing by 50.2% during the first quarter. CWM LLC now owns 323 shares of the construction company’s stock worth $66,000 after purchasing an additional 108 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Simpson Manufacturing by 93.9% in the 3rd quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock valued at $73,000 after purchasing an additional 184 shares during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Performance

The firm’s 50 day moving average price is $183.96 and its two-hundred day moving average price is $178.20. The firm has a market cap of $7.44 billion, a PE 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.