Raymond James Financial Inc. Makes New Investment in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Raymond James Financial Inc. bought a new position in Simpson Manufacturing Co., Inc. (NYSE:SSD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 329,517 shares of the construction company’s stock, valued at approximately $54,644,000. Raymond James Financial Inc. owned 0.78% of Simpson Manufacturing at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of Nova Scotia increased its position in Simpson Manufacturing by 4.3% in the fourth quarter. Bank of Nova Scotia now owns 50,000 shares of the construction company’s stock worth $8,292,000 after buying an additional 2,040 shares during the period. Maren Capital LLC increased its holdings in shares of Simpson Manufacturing by 19.1% during the fourth quarter. Maren Capital LLC now owns 287,652 shares of the construction company’s stock valued at $47,701,000 after purchasing an additional 46,129 shares during the period. Bank of Montreal Can increased its holdings in shares of Simpson Manufacturing by 27.3% during the fourth quarter. Bank of Montreal Can now owns 6,780 shares of the construction company’s stock valued at $1,124,000 after purchasing an additional 1,453 shares during the period. Aristides Capital LLC increased its holdings in shares of Simpson Manufacturing by 23.9% during the fourth quarter. Aristides Capital LLC now owns 3,999 shares of the construction company’s stock valued at $663,000 after purchasing an additional 771 shares during the period. Finally, Aster Capital Management DIFC Ltd increased its holdings in shares of Simpson Manufacturing by 66.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,932 shares of the construction company’s stock valued at $320,000 after purchasing an additional 771 shares during the period. 93.68% of the stock is owned by institutional investors and hedge funds.

Simpson Manufacturing Price Performance

Shares of SSD opened at $163.67 on Tuesday. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 21.54 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 3.21. Simpson Manufacturing Co., Inc. has a one year low of $154.97 and a one year high of $210.08. The stock’s fifty day moving average is $166.33 and its 200-day moving average is $177.14.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. Equities analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 3rd. Simpson Manufacturing’s payout ratio is currently 14.74%.

Insider Buying and Selling

In related news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the transaction, the executive vice president now directly owns 8,810 shares of the company’s stock, valued at $1,497,523.80. The trade was a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price target on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use 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, and strengthening and protection products.