Short Interest in Simpson Manufacturing Co., Inc. (NYSE:SSD) Increases By 20.1%


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Simpson Manufacturing Co., Inc. (NYSE:SSD) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 787,600 shares, a growth of 20.1% from the March 31st total of 655,700 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 231,000 shares, the days-to-cover ratio is presently 3.4 days.

SSD stock traded up $1.20 during trading on Tuesday, hitting $116.73. The stock had a trading volume of 194,770 shares, compared to its average volume of 234,121. The company’s 50-day moving average price is $106.52 and its two-hundred day moving average price is $98.37. Simpson Manufacturing has a twelve month low of $65.50 and a twelve month high of $117.27. The stock has a market capitalization of $5.07 billion, a P/E ratio of 27.38 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.29 and a quick ratio of 2.93.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Sunday, April 25th. The construction company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.26. Simpson Manufacturing had a return on equity of 20.67% and a net margin of 14.99%. The firm had revenue of $347.64 million for the quarter, compared to analyst estimates of $310.10 million. During the same period in the previous year, the company posted $0.83 earnings per share. The business’s revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts expect that Simpson Manufacturing will post 4.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 22nd. Investors of record on Thursday, April 1st were issued a $0.23 dividend. The ex-dividend date was Wednesday, March 31st. This represents a $0.92 annualized dividend and a dividend yield of 0.79%. Simpson Manufacturing’s dividend payout ratio is presently 30.87%.

Several equities analysts recently weighed in on SSD shares. Robert W. Baird lifted their price target on Simpson Manufacturing from $120.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, April 27th. DA Davidson upped their target price on Simpson Manufacturing from $106.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 27th. Finally, Zacks Investment Research cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 20th.

In related news, Director Michael A. Bless sold 2,000 shares of the business’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $93.49, for a total value of $186,980.00. Following the completion of the transaction, the director now directly owns 3,837 shares in the company, valued at approximately $358,721.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Karen Winifred Colonias sold 10,000 shares of the stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $108.00, for a total transaction of $1,080,000.00. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $1,966,140 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of Simpson Manufacturing by 0.9% during the 3rd quarter. Sei Investments Co. now owns 64,318 shares of the construction company’s stock valued at $6,217,000 after buying an additional 562 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of Simpson Manufacturing by 2.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 6,030 shares of the construction company’s stock worth $564,000 after acquiring an additional 150 shares during the last quarter. Mirador Capital Partners LP raised its position in Simpson Manufacturing by 5.6% in the fourth quarter. Mirador Capital Partners LP now owns 9,568 shares of the construction company’s stock valued at $894,000 after purchasing an additional 509 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Simpson Manufacturing during the fourth quarter worth $442,000. Finally, Sawgrass Asset Management LLC lifted its stake in Simpson Manufacturing by 55.6% during the 4th quarter. Sawgrass Asset Management LLC now owns 4,030 shares of the construction company’s stock worth $377,000 after acquiring an additional 1,440 shares in the last quarter. 89.21% of the stock is currently owned by hedge funds and other institutional investors.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, shearwalls, and pre-fabricated lateral systems that are used 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, protection, and strengthening applications.

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