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

Simpson Manufacturing Co., Inc. (NYSE:SSD) 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.

The construction company reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.07). The firm had revenue of $530.58 million for 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%. Simpson Manufacturing’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS.

Analysts Set New Price Targets

SSD has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. StockNews.com lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th.

Insider Buying and Selling

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

Hedge Funds Weigh In On Simpson Manufacturing

Several hedge funds and other institutional investors have recently made changes to their positions in SSD. SG Americas Securities LLC purchased a new stake in Simpson Manufacturing during the 3rd quarter worth about $137,000. Robeco Institutional Asset Management B.V. purchased a new position in Simpson Manufacturing during the third quarter worth $98,000. Raymond James Financial Services Advisors Inc. increased its position in Simpson Manufacturing by 10.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,750 shares of the construction company’s stock worth $861,000 after buying an additional 527 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Simpson Manufacturing in the third quarter valued at $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Simpson Manufacturing by 19.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,135 shares of the construction company’s stock valued at $1,369,000 after acquiring an additional 1,507 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

The stock has a 50 day simple moving average of $197.37 and a 200 day simple moving average of $178.73. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 19.88 and a beta of 1.30. The company has a quick ratio of 2.11, a current ratio of 3.63 and a debt-to-equity ratio of 0.27.

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.