Simpson Manufacturing Co., Inc. (SSD) To Go Ex-Dividend on October 4th

Posted by on Oct 2nd, 2023

Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Free Report) declared a quarterly dividend on Monday, July 31st, Zacks reports. Stockholders of record on Thursday, October 5th will be paid a dividend of 0.27 per share by the construction company on Thursday, October 26th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Wednesday, October 4th.

Simpson Manufacturing has increased its dividend by an average of 4.3% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Simpson Manufacturing has a payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Simpson Manufacturing to earn $8.86 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 12.2%.

Simpson Manufacturing Stock Down 0.6 %

Shares of NYSE:SSD opened at $149.81 on Monday. The business’s 50 day moving average is $155.00 and its 200 day moving average is $134.64. The stock has a market cap of $6.39 billion, a P/E ratio of 18.82 and a beta of 1.24. Simpson Manufacturing has a 52-week low of $75.25 and a 52-week high of $166.02. The company has a quick ratio of 2.14, a current ratio of 3.46 and a debt-to-equity ratio of 0.34.

Simpson Manufacturing (NYSE:SSD – Get Free Report) last issued its earnings results on Monday, July 24th. The construction company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.37. Simpson Manufacturing had a net margin of 15.78% and a return on equity of 23.43%. The company had revenue of $597.60 million for the quarter, compared to analysts’ expectations of $553.23 million. During the same period in the prior year, the business earned $2.16 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts predict that Simpson Manufacturing will post 8.22 EPS for the current year.

Insider Activity

In related news, EVP Roger Dankel sold 2,500 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $155.00, for a total transaction of $387,500.00. Following the completion of the transaction, the executive vice president now directly owns 32,202 shares of the company’s stock, valued at $4,991,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Roger Dankel sold 2,500 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $155.00, for a total value of $387,500.00. Following the sale, the executive vice president now directly owns 32,202 shares in the company, valued at approximately $4,991,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Philip E. Donaldson sold 675 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $157.94, for a total transaction of $106,609.50. Following the transaction, the director now directly owns 6,549 shares of the company’s stock, valued at $1,034,349.06. The disclosure for this sale can be found here. In the last three months, insiders sold 4,215 shares of company stock valued at $656,495. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Comerica Bank purchased a new position in Simpson Manufacturing during the second quarter worth about $2,374,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Simpson Manufacturing by 10.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 7,321 shares of the construction company’s stock worth $1,014,000 after acquiring an additional 708 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in Simpson Manufacturing during the second quarter worth approximately $269,000. Wells Fargo & Company MN boosted its holdings in shares of Simpson Manufacturing by 1.5% in the 2nd quarter. Wells Fargo & Company MN now owns 588,416 shares of the construction company’s stock valued at $81,496,000 after purchasing an additional 8,792 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its stake in shares of Simpson Manufacturing by 57.8% during the 2nd quarter. State of Tennessee Treasury Department now owns 5,593 shares of the construction company’s stock valued at $775,000 after buying an additional 2,048 shares during the period. 89.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Simpson Manufacturing in a research note on Thursday, August 17th. They issued a “buy” rating for the company. DA Davidson boosted their price objective on Simpson Manufacturing from $135.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, July 25th. Finally, Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $176.00 to $190.00 in a report on Tuesday, July 25th.

Read Our Latest Report on SSD

Simpson Manufacturing Company Profile

(Get Free Report)

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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.

Featured Stories

Dividend History for Simpson Manufacturing (NYSE:SSD)

Receive News & Ratings for Simpson Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.