Posted by admin on Jul 7th, 2022

Virginia Retirement Systems ET AL increased its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Rating) by 713.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,200 shares of the construction company’s stock after buying an additional 10,700 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Simpson Manufacturing were worth $1,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in Simpson Manufacturing by 617.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 244 shares of the construction company’s stock worth $34,000 after buying an additional 210 shares during the last quarter. Confluence Wealth Services Inc. acquired a new position in Simpson Manufacturing during the 4th quarter worth $39,000. Covestor Ltd acquired a new position in Simpson Manufacturing during the 4th quarter worth $71,000. MUFG Americas Holdings Corp boosted its position in Simpson Manufacturing by 155.3% during the 4th quarter. MUFG Americas Holdings Corp now owns 526 shares of the construction company’s stock worth $73,000 after acquiring an additional 320 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in Simpson Manufacturing by 51.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 532 shares of the construction company’s stock worth $74,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 91.44% of the company’s stock.

Shares of Simpson Manufacturing stock opened at $101.92 on Thursday. The company has a quick ratio of 4.40, a current ratio of 5.85 and a debt-to-equity ratio of 0.55. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 14.25 and a beta of 1.19. The business has a fifty day simple moving average of $102.69 and a 200-day simple moving average of $112.68. Simpson Manufacturing Co., Inc. has a fifty-two week low of $87.73 and a fifty-two week high of $141.26.

Simpson Manufacturing (NYSE:SSD – Get Rating) last announced its earnings results on Monday, April 25th. The construction company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.60. The company had revenue of $493.57 million for the quarter, compared to analyst estimates of $476.28 million. Simpson Manufacturing had a return on equity of 26.86% and a net margin of 18.07%. Simpson Manufacturing’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. Analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 28th. Stockholders of record on Thursday, July 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, July 6th. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.02%. Simpson Manufacturing’s payout ratio is 13.99%.

In related news, insider Roger Dankel sold 600 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $105.00, for a total transaction of $63,000.00. Following the transaction, the insider now directly owns 32,412 shares of the company’s stock, valued at $3,403,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Karen Winifred Colonias sold 15,000 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $110.46, for a total value of $1,656,900.00. Following the transaction, the chief executive officer now directly owns 33,423 shares in the company, valued at $3,691,904.58. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $2,110,512 over the last ninety days. 0.60% of the stock is owned by insiders.

A number of research analysts have issued reports on SSD shares. Robert W. Baird boosted their price target on Simpson Manufacturing from $136.00 to $145.00 in a research report on Tuesday, April 26th. StockNews.com lowered Simpson Manufacturing from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 20th.

Simpson Manufacturing Profile (Get Rating)

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.

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