Insider Selling: Simpson Manufacturing Company, Inc. (SSD) Major Shareholder Sells 70,582 Shares of Stock
Simpson Manufacturing Company, Inc. (NYSE:SSD) major shareholder Sharon H. Simpson sold 70,582 shares of Simpson Manufacturing stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $49.41, for a total value of $3,487,456.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Simpson Manufacturing Company, Inc. (NYSE SSD) traded up 0.04% during midday trading on Tuesday, hitting $49.52. The stock had a trading volume of 147,992 shares. The stock’s 50 day moving average price is $46.27 and its 200-day moving average price is $43.48. Simpson Manufacturing Company, Inc. has a 52 week low of $39.82 and a 52 week high of $50.10. The company has a market cap of $2.34 billion, a PE ratio of 24.16 and a beta of 1.40.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Thursday, July 27th. The construction company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The firm had revenue of $263.00 million for the quarter, compared to analysts’ expectations of $259.05 million. Simpson Manufacturing had a net margin of 10.78% and a return on equity of 10.26%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities research analysts predict that Simpson Manufacturing Company, Inc. will post $2.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Thursday, October 5th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, October 4th. This represents a $0.84 annualized dividend and a yield of 1.70%. Simpson Manufacturing’s dividend payout ratio is 40.98%.
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A number of institutional investors have recently modified their holdings of SSD. BW Gestao de Investimentos Ltda. grew its stake in shares of Simpson Manufacturing by 66.8% during the second quarter. BW Gestao de Investimentos Ltda. now owns 9,856 shares of the construction company’s stock valued at $431,000 after purchasing an additional 3,947 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Simpson Manufacturing during the second quarter valued at approximately $383,000. Dean Capital Management bought a new stake in shares of Simpson Manufacturing during the second quarter valued at approximately $3,140,000. Caxton Associates LP grew its stake in shares of Simpson Manufacturing by 13.1% during the second quarter. Caxton Associates LP now owns 12,977 shares of the construction company’s stock valued at $567,000 after purchasing an additional 1,500 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Simpson Manufacturing by 4.9% during the second quarter. State Street Corp now owns 1,042,985 shares of the construction company’s stock valued at $45,589,000 after purchasing an additional 49,092 shares during the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on SSD shares. Zacks Investment Research raised Simpson Manufacturing from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub raised Simpson Manufacturing from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th.
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.
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