Somewhat Favorable News Coverage Somewhat Unlikely to Impact Simpson Manufacturing (SSD) Share Price

News stories about Simpson Manufacturing (NYSE:SSD) have been trending somewhat positive on Thursday, Accern reports. The research group identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Simpson Manufacturing earned a media sentiment score of 0.07 on Accern’s scale. Accern also gave media coverage about the construction company an impact score of 47.1030948009517 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

A number of analysts have issued reports on the company. BidaskClub downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research raised Simpson Manufacturing from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, July 25th. Robert W. Baird reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Simpson Manufacturing in a research note on Friday, October 20th. Finally, DA Davidson raised Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 31st.

Simpson Manufacturing (NYSE SSD) traded up $0.86 during trading hours on Thursday, reaching $57.85. The company’s stock had a trading volume of 329,081 shares, compared to its average volume of 214,859. Simpson Manufacturing has a 1-year low of $39.82 and a 1-year high of $59.71. The company has a market cap of $2,694.52, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 6.07 and a beta of 1.49.

Simpson Manufacturing declared that its Board of Directors has approved a share buyback program on Wednesday, August 2nd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Wednesday, January 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is 41.58%.

In related news, major shareholder Sharon H. Simpson sold 11,962 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $49.05, for a total transaction of $586,736.10. Following the completion of the transaction, the insider now owns 769,504 shares in the company, valued at approximately $37,744,171.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Sharon H. Simpson sold 24,973 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $49.07, for a total value of $1,225,425.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 966,062 shares of company stock valued at $14,581,567,733. Company insiders own 0.36% of the company’s stock.

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About Simpson Manufacturing

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, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.

Insider Buying and Selling by Quarter for Simpson Manufacturing (NYSE:SSD)

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