Simpson Manufacturing (NYSE:SSD) rating lowered to buy on StockNews.com

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Simpson Manufacturing (NYSE: SSD – Get a review) was downgraded by StockNews.com from a “strong buy” rating to a “buy” rating in a research report released Wednesday to clients and investors.

A number of other research analysts also commented on the SSD. Zacks Investment Research downgraded shares of Simpson Manufacturing from a “strong buy” rating to a “hold” rating in a Wednesday, April 13 research report. CJS Securities upgraded shares of Simpson Manufacturing from a “market performer” rating to an “outperformer” rating in a Tuesday, Feb. 8 research report. Robert W. Baird raised his price target on Simpson Manufacturing shares from $135.00 to $146.00 in a Wednesday, Jan. 5 research report. DA Davidson raised his price target on Simpson Manufacturing shares from $120.00 to $142.00 in a Wednesday, Jan. 5 research report. Finally, Sidoti moved Simpson Manufacturing shares from a “neutral” rating to a “buy” rating and set a target price of $152.00 for the company in a Tuesday, February 8 research report. Two research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $147.50.

Shares of SSD opened at $108.87 on Wednesday. The company’s fifty-day simple moving average is $113.71. Simpson Manufacturing has a 1-year low of $102.41 and a 1-year high of $141.26. The company has a market capitalization of $4.72 billion, a PE ratio of 17.76 and a beta of 1.25.

Simpson Manufacturing (NYSE:SSD – Get Rating) last released its quarterly results on Monday, February 7. The construction company reported EPS of $1.61 for the quarter, beating consensus analyst estimates of $0.96 from $0.65. The company posted revenue of $418.56 million in the quarter, compared to analyst estimates of $373.70 million. Simpson Manufacturing had a net margin of 16.94% and a return on equity of 24.18%. The company’s revenue for the quarter increased 42.4% year over year. During the same period of the previous year, the company achieved EPS of $0.68. As a group, research analysts expect Simpson Manufacturing to post earnings per share of 6.48 for the current fiscal year.

In other Simpson Manufacturing news, Director James S. Andrasick sold 500 shares of the company in a trade Friday, March 11. The shares were sold at an average price of $117.99, for a total value of $58,995.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, insider Roger Dankel sold 600 shares of the company in a trade on Tuesday, February 1. The stock was sold at an average price of $113.00, for a total transaction of $67,800.00. The disclosure of this sale can be found here. 0.60% of the shares are currently held by insiders.

Institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in Simpson Manufacturing shares by 2.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,803,928 shares of the construction company valued at $406,907,000 after acquiring 91,989 additional shares in the last quarter. Congress Asset Management Co. MA increased its holdings of Simpson Manufacturing stock 14.5% during the fourth quarter. Congress Asset Management Co. MA now owns 104,408 shares of the construction company worth $14,520,000 after purchasing an additional 13,220 shares during the period. Crossmark Global Holdings Inc. increased its holdings of Simpson Manufacturing shares by 51.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 8,228 shares of the construction company worth $1,144,000 after purchasing an additional 2,778 shares during the period. Credit Suisse AG increased its holdings of Simpson Manufacturing shares by 0.9% during the third quarter. Credit Suisse AG now owns 158,781 shares of the construction company worth $16,984,000 after purchasing an additional 1,458 shares during the period. Finally, Louisiana State Employees Retirement System increased its equity stake in Simpson Manufacturing by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the construction company worth $1,558,000 after purchasing 100 additional shares during the period. 89.18% of the shares are held by institutional investors and hedge funds.

Simpson Manufacturing Company Profile (Get a rating)

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures and sells wood and concrete building products. The Company offers wood building products, including connectors, truss plates, fastening systems, fasteners and shear walls, as well as pre-engineered lateral systems for use in light frame construction; and concrete construction products including adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder-actuated tools, fiber-reinforced materials and other repair products for use in concrete construction concrete, masonry and steel, and grouts, coatings, sealants, mortars, fiberglass and fiber reinforced polymer systems, and asphalt products for the repair of concrete construction, and reinforcing products and protection.

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