Simpson Manufacturing Company, Inc. (SSD) Stock Rating Reaffirmed by Robert W. Baird

Piedmont Investment Advisors LLC acquired a new position in Simpson Manufacturing Company, Inc.

Simpson Manufacturing (NYSE:SSD) opened at 42.29 on Thursday.

The company now believes the market price for steel will remain stable for the remainder of 2017.

A number of other brokerages have also recently commented on SSD. Zacks Investment Research upgraded Simpson Manufacturing from a "sell" rating to a "hold" rating in a report on Tuesday, July 4th. Finally, BidaskClub cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Wednesday, August 16th. (SSD) traded down 0.99% on Monday, reaching $48.86. These holdings make up 87.65% of the company's outstanding shares. Equities analysts predict that Simpson Manufacturing Company, Inc. will post $2.09 EPS for the current year. The company has a 50-day moving average price of $48.54 and a 200-day moving average price of $44.20. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 23.83 and a beta of 1.40. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. Simpson Manufacturing had a return on equity of 10.26% and a net margin of 10.78%. The business had revenue of $263.00 million for the quarter, compared to analyst estimates of $259.05 million. During the same period in the prior year, the company earned $0.54 earnings per share. The company's revenue for the quarter was up 14.3% compared to the same quarter previous year. During the same period past year, the firm posted $0.54 earnings per share.

Simpson Manufacturing Co, Inc through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems and lateral systems used in light-frame construction. "(SSD) Stock Rating Reaffirmed by Robert W. Baird" was originally posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this news story on another domain, it was copied illegally and republished in violation of USA and worldwide copyright and trademark laws.

SSD has been the topic of several analyst reports. Also, major shareholder Sharon H. Simpson sold 72,424 shares of the firm's stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $49.66, for a total transaction of $2,303,926.04. Following the transaction, the insider now directly owns 769,504 shares in the company, valued at $37,744,171.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The shares were sold at an average price of $49.41, for a total value of $3,487,456.62. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. now owns 5,256,026 shares of the construction company's stock valued at $229,740,000 after acquiring an additional 43,753 shares during the period. Vanguard Group Inc is the second biggest holder with 4 million shares now valued at 155.27 million whilst The Vanguard Group has 3 million shares valued at 150.41 million. BlackRock Inc. now owns 5,212,273 shares of the construction company's stock worth $224,596,000 after buying an additional 5,208,933 shares in the last quarter. Granite Investment Partners LLC increased its holdings in shares of Simpson Manufacturing by 0.4% during the second quarter. Franklin Resources Inc. now owns 3,010,385 shares of the construction company's stock worth $131,584,000 after buying an additional 297,244 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Simpson Manufacturing by 0.4% in the 2nd quarter. Insiders own 0.36% of the company's stock. Janus Henderson Group PLC bought a new position in shares of Simpson Manufacturing in the second quarter worth approximately $72,714,000. Insiders own 0.50% of the company's stock.

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