Simpson Manufacturing Posts Q4; Shares Dive 6.5%, Leading To Reports It Is Now Oversold

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Simpson Manufacturing Co. Inc. ( SSD ) said for the fourth quarter of 2012, net sales increased 10.7% to $144.7 million compared to net sales of $130.7 million for the fourth quarter of 2011. The company had net income of $5.9 million for the fourth quarter compared to net income of $4.9 million a year earlier. Diluted net income per common share was $0.12 compared to diluted net income of $0.10. Fourth quarter 2012 net income included a $9.9 million tax benefit.

According to Yahoo Business News, the EPS estimate for December 2012 was for $0.07 while the EPS Actual was $0.12.

SSD is down 6.5% at near $29.70, above a day low $29.04 but below a day's high of $32 compared to an open price of $31.20, moving in a 52-week range of $23.22 - $34.33.

According to a report on Forbes, shares of SSD are "now oversold". The report said: "We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of Simpson Manufacturing Co., Inc. , the RSI reading has hit 23.9."



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This article appears in: Investing , Commodities

Referenced Stocks: SSD

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