Simpson Manufacturing Co, Inc. (NYSE:SSD) major shareholder Sharon H. Simpson sold 89,410 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $58.74, for a total value of $5,251,943.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Simpson Manufacturing Co, Inc. (NYSE SSD) traded up $0.70 during midday trading on Friday, reaching $59.48. The company’s stock had a trading volume of 234,788 shares, compared to its average volume of 239,738. Simpson Manufacturing Co, Inc. has a 12-month low of $39.82 and a 12-month high of $61.62. The firm has a market capitalization of $2,755.55, a PE ratio of 29.45, a P/E/G ratio of 4.65 and a beta of 1.52.
Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, October 30th. The construction company reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.03). Simpson Manufacturing had a net margin of 10.25% and a return on equity of 9.92%. equities research analysts expect that Simpson Manufacturing Co, Inc. will post 1.88 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Simpson Manufacturing by 0.8% during the second quarter. BlackRock Inc. now owns 5,256,026 shares of the construction company’s stock valued at $229,740,000 after buying an additional 43,753 shares in the last quarter. Janus Henderson Group PLC raised its stake in Simpson Manufacturing by 16.7% during the third quarter. Janus Henderson Group PLC now owns 1,941,044 shares of the construction company’s stock valued at $95,189,000 after buying an additional 277,496 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Simpson Manufacturing by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,778,840 shares of the construction company’s stock valued at $87,234,000 after buying an additional 28,126 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Simpson Manufacturing by 8.8% during the third quarter. Bank of New York Mellon Corp now owns 1,307,907 shares of the construction company’s stock valued at $64,141,000 after buying an additional 105,480 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in Simpson Manufacturing by 13.1% during the third quarter. Conestoga Capital Advisors LLC now owns 1,203,520 shares of the construction company’s stock valued at $59,021,000 after buying an additional 138,960 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.
Several research analysts recently commented on the company. Robert W. Baird reiterated a “buy” rating and issued a $64.00 price target on shares of Simpson Manufacturing in a research note on Tuesday, January 9th. Sidoti initiated coverage on Simpson Manufacturing in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $66.00 price target on the stock. Finally, DA Davidson upgraded Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Simpson Manufacturing currently has an average rating of “Hold” and an average target price of $60.00.
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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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