Equities Analysts Issue Forecasts for Simpson Manufacturing Co., Inc.’s Q2 2024 Earnings (NYSE:SSD)

Simpson Manufacturing Co., Inc. (NYSE:SSD) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Simpson Manufacturing in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst K. Yinger anticipates that the construction company will post earnings per share of $2.49 for the quarter. The consensus estimate for Simpson Manufacturing’s current full-year earnings is $8.74 per share. DA Davidson also issued estimates for Simpson Manufacturing’s FY2025 earnings at $9.59 EPS.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.07). The firm had revenue of $530.58 million for the quarter, compared to analysts’ expectations of $549.87 million. Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS.

Several other equities research analysts have also recently commented on the stock. StockNews.com raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird raised their target price on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th.

Simpson Manufacturing Trading Up 0.7 %

Shares of SSD opened at $170.80 on Wednesday. The stock has a market capitalization of $7.25 billion, a P/E ratio of 21.40 and a beta of 1.30. The company has a quick ratio of 2.11, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $196.11 and a two-hundred day simple moving average of $178.81. Simpson Manufacturing has a twelve month low of $117.08 and a twelve month high of $218.38.

Insider Activity at Simpson Manufacturing

In related news, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction of $179,776.32. Following the completion of the transaction, the director now directly owns 14,638 shares of the company’s stock, valued at approximately $2,817,522.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Simpson Manufacturing news, EVP Roger Dankel sold 850 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total transaction of $168,368.00. Following the completion of the sale, the executive vice president now directly owns 28,764 shares in the company, valued at approximately $5,697,573.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jennifer Chatman sold 934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total transaction of $179,776.32. Following the sale, the director now owns 14,638 shares of the company’s stock, valued at $2,817,522.24. The disclosure for this sale can be found here. Insiders sold a total of 3,784 shares of company stock valued at $770,924 in the last three months. Company insiders own 0.42% of the company’s stock.

Institutional Trading of Simpson Manufacturing

A number of institutional investors and hedge funds have recently bought and sold shares of the company. TD Asset Management Inc grew its stake in shares of Simpson Manufacturing by 517.1% in the fourth quarter. TD Asset Management Inc now owns 555,161 shares of the construction company’s stock worth $109,911,000 after acquiring an additional 465,193 shares during the period. Norges Bank bought a new stake in shares of Simpson Manufacturing in the fourth quarter worth approximately $81,069,000. Invesco Ltd. grew its stake in shares of Simpson Manufacturing by 309.3% in the third quarter. Invesco Ltd. now owns 482,881 shares of the construction company’s stock worth $72,340,000 after acquiring an additional 364,910 shares during the period. FMR LLC grew its stake in shares of Simpson Manufacturing by 48.6% in the third quarter. FMR LLC now owns 1,051,150 shares of the construction company’s stock worth $157,473,000 after acquiring an additional 343,986 shares during the period. Finally, Epoch Investment Partners Inc. grew its stake in shares of Simpson Manufacturing by 250.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 325,452 shares of the construction company’s stock worth $64,433,000 after acquiring an additional 232,600 shares during the period. 93.68% of the stock is currently 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.