DA Davidson Has Negative Outlook for SSD FY2024 Earnings

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

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

Simpson Manufacturing Price Performance

NYSE SSD opened at $181.96 on Wednesday. The stock’s 50-day moving average price is $184.45 and its two-hundred day moving average price is $178.04. The company has a current ratio of 3.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.24. The company has a market cap of $7.67 billion, a PE ratio of 24.04 and a beta of 1.32. Simpson Manufacturing has a 1 year low of $124.50 and a 1 year high of $218.38.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.19). The company had revenue of $587.15 million for the quarter, compared to analyst estimates of $589.00 million. Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. Simpson Manufacturing’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.43 EPS.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. Simpson Manufacturing’s payout ratio is currently 14.80%.

Insiders Place Their Bets

In other news, EVP Roger Dankel sold 2,700 shares of the 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 completion of the sale, the executive vice president now directly owns 24,064 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Roger Dankel sold 2,700 shares of the 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 completion of the sale, the executive vice president now directly owns 24,064 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James S. Andrasick sold 500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total value of $89,375.00. Following the completion of the sale, the director now directly owns 866 shares of the company’s stock, valued at $154,797.50. This represents a 0.00 % decrease in their ownership of the stock. 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. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SkyView Investment Advisors LLC raised its stake in Simpson Manufacturing by 0.7% during the second quarter. SkyView Investment Advisors LLC now owns 9,161 shares of the construction company’s stock worth $1,544,000 after acquiring an additional 67 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Simpson Manufacturing by 1.8% during 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 in the last quarter. Jennison Associates LLC raised its stake in 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 acquiring an additional 90 shares in the last quarter. Private Advisor Group LLC raised its stake in Simpson Manufacturing by 4.3% during the first quarter. Private Advisor Group LLC now owns 2,199 shares of the construction company’s stock worth $451,000 after acquiring an additional 91 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in Simpson Manufacturing by 4.0% during the third quarter. Inspire Investing LLC now owns 2,437 shares of the construction company’s stock worth $466,000 after acquiring an additional 94 shares in the last quarter. 93.68% of the stock is owned by institutional investors.

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.