Michael Olosky Sells 3,502 Shares of Simpson Manufacturing (NYSE:SSD) Stock

Simpson Manufacturing Company, Inc. (NYSE:SSD) CEO Michael Olosky sold 3,502 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the transaction, the chief executive officer directly owned 51,398 shares in the company, valued at $8,883,630.32. The trade was a 6.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Simpson Manufacturing Stock Performance

SSD stock opened at $173.33 on Friday. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The business has a 50-day moving average price of $188.14 and a 200 day moving average price of $186.55. The company has a market capitalization of $7.13 billion, a P/E ratio of 18.94 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. During the same period in the prior year, the business earned $2.47 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 13.11%.

Hedge Funds Weigh In On Simpson Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in Simpson Manufacturing by 20,761.9% in the second quarter. California State Teachers Retirement System now owns 9,917,328 shares of the construction company’s stock valued at $2,076,193,000 after buying an additional 9,869,790 shares during the last quarter. BlackRock Inc. acquired a new stake in Simpson Manufacturing in the second quarter worth about $862,138,000. Bank of Montreal Can grew its stake in shares of Simpson Manufacturing by 11,044.7% during the fourth quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after acquiring an additional 672,402 shares during the last quarter. Norges Bank purchased a new stake in shares of Simpson Manufacturing during the fourth quarter worth about $85,140,000. Finally, Port Capital LLC acquired a new position in shares of Simpson Manufacturing during the second quarter valued at about $82,563,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SSD. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Stephens upped their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research note on Tuesday, July 28th. Stifel Nicolaus lifted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $216.25.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company’s product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.