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

Simpson Manufacturing Co., Inc. (NYSE:SSD) – DA Davidson issued their Q2 2024 earnings estimates for Simpson Manufacturing in a note issued to investors on Tuesday, April 23rd. DA Davidson analyst K. Yinger forecasts 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 earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.07). Simpson Manufacturing had a return on equity of 20.51% and a net margin of 15.45%. The business had revenue of $530.58 million for the quarter, compared to analysts’ expectations of $549.87 million. During the same quarter last year, the business posted $2.05 earnings per share. The business’s revenue was down .7% on a year-over-year basis.

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

Simpson Manufacturing Price Performance

Shares of NYSE SSD opened at $170.80 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.77 and a quick ratio of 2.11. The stock has a fifty day moving average price of $196.11 and a 200 day moving average price of $178.81. Simpson Manufacturing has a 1-year low of $117.08 and a 1-year high of $218.38. The company has a market cap of $7.25 billion, a PE ratio of 21.40 and a beta of 1.30.

Insider Buying and Selling at Simpson Manufacturing

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SSD. TD Asset Management Inc raised its stake in shares of Simpson Manufacturing by 517.1% during the 4th quarter. TD Asset Management Inc now owns 555,161 shares of the construction company’s stock worth $109,911,000 after buying an additional 465,193 shares during the last quarter. Norges Bank acquired a new position in shares of Simpson Manufacturing during the 4th quarter worth $81,069,000. Invesco Ltd. increased its position in Simpson Manufacturing by 309.3% during the 3rd quarter. Invesco Ltd. now owns 482,881 shares of the construction company’s stock worth $72,340,000 after purchasing an additional 364,910 shares in the last quarter. FMR LLC increased its position in Simpson Manufacturing by 48.6% during the 3rd quarter. FMR LLC now owns 1,051,150 shares of the construction company’s stock worth $157,473,000 after purchasing an additional 343,986 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its position in Simpson Manufacturing by 250.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 325,452 shares of the construction company’s stock worth $64,433,000 after purchasing an additional 232,600 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

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.