Kayne Anderson Rudnick Investment recently announced the acquisition of new stake in Simpson Manufacturing Co. Inc. (NYSE:SSD). The institutional investor has increased its shareholding in the Industrials company by 25.64% to 4.54 million shares with purchase of 0.93 million shares. This fresh investment now brings its stake to 10.65% valued currently at $402.13 million. In addition, JPMorgan Investment Management, I raised its holdings by 81125.0 to 1.57 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.57% or 7675.0 shares – to 1.35 million shares.
With over 0.19 million Simpson Manufacturing Co. Inc. (SSD) shares trading Friday and a closing price of $99.42 on the day, the dollar volume was approximately $18.72 million. The shares have shown a negative half year performance of -8.81% and its price on 01/20/23 gained nearly 3.75%. Currently, there are 42.81M common shares owned by the public and among those 42.31M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for SSD have a consensus price objective of $109.25. The analysts have set the share’s price value over the next 12 months at a high of $125.00 and a low of $90.00. The average price target is 9.0% above its recent price level and a downside to the estimated low will see the stock lose -10.47% over that period. But an upside of 20.46% will see the stock hit the forecast high price target while median target price for the stock is $111.00.
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 96,808 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 91,249 shares.
The top 3 mutual fund holders in Simpson Manufacturing Co. Inc. are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 1.31 million shares of the company’s stock, all valued at over $116.52 million. The company sold 250.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Vanguard Total Stock Market Index bought 6227.0 shares to see its total holdings expand to 1.31 million shares valued at over $116.12 million and representing 3.08% of the shares outstanding. Vanguard Small Cap Index Fund sold 17864.0 shares to bring its total holdings to over 1.1 million shares at a value of $97.32 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.58% of the shares outstanding.
Shares of Simpson Manufacturing Co. Inc. (NYSE: SSD) opened at $96.58, up $0.75 from a prior closing price of $95.83. However, the script later moved the day high at 99.43, up 3.75%. The company’s stock has a 5-day price change of 0.93% and 26.89% over the past three months. SSD shares are trading 12.14% year to date (YTD), with the 12-month market performance down to -19.32% lower. It has a 12-month low price of $75.25 and touched a high of $124.48 over the same period. SSD has an average intraday trading volume of 197.80K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.27%, 7.39%, and 3.69% respectively.
Institutional ownership of Simpson Manufacturing Co. Inc. (NYSE: SSD) shares accounts for 91.50% of the company’s 42.81M shares outstanding. Mutual fund holders own 40.71%, while other institutional holders and individual stakeholders account for 52.36% and 30.15% respectively.
It has a market capitalization of $4.08B and a beta (3y monthly) value of 1.18. The stock’s trailing 12-month PE ratio is 12.43, while the earnings-per-share (ttm) stands at $8.00. The company has a PEG of 2.49 and a Quick Ratio of 2.00 with the debt-to-equity ratio at 0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.83% over the week and 2.40% over the month.
Analysts forecast that Simpson Manufacturing Co. Inc. (SSD) will achieve an EPS of $1.03 for the current quarter, $1.32 for the next quarter and $5.68 for 2023. The lowest estimate earnings-per-share for the quarter is $0.94 while analysts give the company a high EPS estimate of $1.11. Comparatively, EPS for the current quarter was $1.61 a year ago. Earnings per share for the fiscal year are expected to increase by 43.50%, and -23.61% over the next financial year. EPS should shrink at an annualized rate of 5.00% over the next five years, compared to 26.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Simpson Manufacturing Co. Inc. (SSD) as a “Strong Buy” at a consensus score of 1.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SSD, a number of firms have released research notes about the stock. Sidoti stated their Buy rating for the stock in a research note on February 08, 2022, with the firm’s price target at $152. Robert W. Baird was of a view on October 15, 2020 that the stock is Outperform, while DA Davidson gave the stock Neutral rating on July 28, 2020, issuing a price target of $98. DA Davidson on their part issued Buy rating on April 28, 2020.
