Insider Selling: Simpson Manufacturing Company, Inc. (SSD) Major Shareholder Sells 28,808 Shares of Stock
Simpson Manufacturing Company, Inc. (NYSE:SSD) major shareholder Sharon H. Simpson sold 28,808 shares of Simpson Manufacturing stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $49.65, for a total value of $1,430,317.20. Following the completion of the transaction, the insider now owns 853,180 shares of the company’s stock, valued at approximately $42,360,387. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Simpson Manufacturing Company, Inc. (SSD) traded down 0.69% on Monday, hitting $49.24. The stock had a trading volume of 126,578 shares. The company has a market cap of $2.33 billion, a P/E ratio of 24.02 and a beta of 1.40. The firm’s 50-day moving average is $47.98 and its 200-day moving average is $43.93. Simpson Manufacturing Company, Inc. has a 52-week low of $39.82 and a 52-week high of $50.18.
Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $263.00 million for the quarter, compared to analysts’ expectations of $259.05 million. Simpson Manufacturing had a return on equity of 10.26% and a net margin of 10.78%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $0.54 earnings per share. Equities research analysts anticipate that Simpson Manufacturing Company, Inc. will post $2.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Thursday, October 5th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, October 4th. Simpson Manufacturing’s dividend payout ratio is presently 40.98%.
Institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC raised its stake in 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 buying an additional 996 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Simpson Manufacturing during the second quarter worth about $148,000. Verity Asset Management Inc. acquired a new stake in shares of Simpson Manufacturing during the second quarter worth about $205,000. Victory Capital Management Inc. increased its position in shares of Simpson Manufacturing by 49.8% during the first quarter. Victory Capital Management Inc. now owns 5,095 shares of the construction company’s stock worth $220,000 after purchasing an additional 1,693 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Simpson Manufacturing by 12.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,261 shares of the construction company’s stock worth $227,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.
A number of equities analysts have recently commented on SSD shares. Zacks Investment Research upgraded Simpson Manufacturing from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $46.00 target price on shares of Simpson Manufacturing in a report on Friday.
Simpson Manufacturing Company Profile
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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