Simpson Manufacturing Company, Inc. (NYSE:SSD) major shareholder Sharon Simpson sold 18,562 shares of the firm’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $49.69, for a total value of $922,345.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Simpson Manufacturing announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 4th will be given a $0.21 dividend. The ex-dividend date is Wednesday, January 3rd. This represents a $0.84 annualized dividend and a dividend yield of 1.44%. Simpson Manufacturing’s dividend payout ratio is currently 41.58%.

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Large investors have recently modified their holdings of the company. Riverhead Capital Management LLC lifted its position in shares of Simpson Manufacturing by 62.3% in the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the construction company’s stock valued at $114,000 after acquiring an additional 996 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Simpson Manufacturing in the second quarter valued at $148,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Simpson Manufacturing in the first quarter valued at $154,000. Verity Asset Management Inc. purchased a new stake in shares of Simpson Manufacturing in the second quarter valued at $205,000. Finally, Victory Capital Management Inc. lifted its position in shares of Simpson Manufacturing by 49.8% in the first quarter. Victory Capital Management Inc. now owns 5,095 shares of the construction company’s stock valued at $220,000 after acquiring an additional 1,693 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

A number of research analysts have weighed in on SSD shares. BidaskClub lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Zacks Investment Research upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, July 25th. Robert W. Baird restated a “hold” rating and issued a $46.00 price objective on shares of Simpson Manufacturing in a report on Friday, October 20th. Finally, DA Davidson upgraded Simpson Manufacturing from a “neutral” rating to a “buy” rating in a report on Tuesday.

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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