Simpson Manufacturing (NYSE:SSD) Shares Gap Down on Disappointing Earnings

Simpson Manufacturing Co., Inc. (NYSE:SSD)’s stock price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $185.12, but opened at $171.98. Simpson Manufacturing shares last traded at $164.25, with a volume of 176,683 shares trading hands.

The construction company reported $1.77 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.07). The company had revenue of $530.58 million during the quarter, compared to the consensus estimate of $549.87 million. Simpson Manufacturing had a return on equity of 22.06% and a net margin of 15.99%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS.

Wall Street Analyst Weigh In

SSD has been the topic of several research reports. Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. StockNews.com cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Roger Dankel sold 850 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total value of $168,368.00. Following the completion of the transaction, the executive vice president now directly owns 28,764 shares in the company, valued at approximately $5,697,573.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Roger Dankel sold 850 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total value of $168,368.00. Following the completion of the transaction, the executive vice president now directly owns 28,764 shares in the company, valued at approximately $5,697,573.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Phillip Burton sold 2,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $211.39, for a total transaction of $422,780.00. Following the sale, the executive vice president now directly owns 4,044 shares in the company, valued at $854,861.16. The disclosure for this sale can be found here. Insiders sold 3,784 shares of company stock worth $770,924 in the last three months. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Simpson Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wesbanco Bank Inc. bought a new stake in shares of Simpson Manufacturing during the first quarter valued at approximately $908,000. Hunter Perkins Capital Management LLC purchased a new stake in shares of Simpson Manufacturing during the first quarter valued at $1,340,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Simpson Manufacturing by 13.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,239 shares of the construction company’s stock valued at $1,896,000 after purchasing an additional 1,103 shares during the period. Outlook Wealth Advisors LLC raised its holdings in shares of Simpson Manufacturing by 21.7% in the first quarter. Outlook Wealth Advisors LLC now owns 1,782 shares of the construction company’s stock valued at $366,000 after acquiring an additional 318 shares in the last quarter. Finally, Edge Financial Advisors LLC bought a new stake in shares of Simpson Manufacturing in the first quarter valued at about $398,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

The stock has a market capitalization of $6.97 billion, a P/E ratio of 19.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.63 and a quick ratio of 2.11. The firm has a fifty day moving average of $197.37 and a two-hundred day moving average of $178.73.

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.