Simpson Manufacturing Co., Inc. (NYSE:SSD) Announces Dividend Increase – $0.28 Per Share

Simpson Manufacturing Co., Inc. (NYSE:SSD) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Thursday, July 4th will be paid a dividend of 0.28 per share by the construction company on Thursday, July 25th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Wednesday, July 3rd. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.27.

Simpson Manufacturing has raised its dividend by an average of 15.4% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Simpson Manufacturing has a dividend payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Simpson Manufacturing to earn $9.59 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 11.3%.

Simpson Manufacturing Trading Up 1.6 %

Shares of NYSE:SSD traded up $2.83 during trading on Friday, reaching $181.04. 78,027 shares of the stock were exchanged, compared to its average volume of 262,539. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 22.33 and a beta of 1.33. The firm’s 50-day moving average price is $194.27 and its 200 day moving average price is $180.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.19 and a current ratio of 3.77. Simpson Manufacturing has a 12-month low of $117.08 and a 12-month high of $218.38.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data 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). The business had revenue of $530.58 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS. On average, sell-side analysts anticipate that Simpson Manufacturing will post 8.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SSD has been the subject of a number of research reports. Robert W. Baird upped 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. StockNews.com lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Thursday.

Insider Activity

In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the sale, the director now directly owns 14,638 shares in the company, valued at $2,817,522.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Simpson Manufacturing news, EVP Phillip Burton sold 2,000 shares of Simpson Manufacturing stock in a transaction dated 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 sale, the executive vice president now owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $179,776.32. Following the transaction, 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 3,784 shares of company stock valued at $770,924 in the last quarter. Company insiders own 0.42% 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.