Simpson Manufacturing Co., Inc. (NYSE:SSD) Stock Position Cut by Balboa Wealth Partners

Balboa Wealth Partners lessened its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 12.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,712 shares of the construction company’s stock after selling 396 shares during the period. Balboa Wealth Partners’ holdings in Simpson Manufacturing were worth $519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SSD. EntryPoint Capital LLC bought a new position in Simpson Manufacturing in the 1st quarter valued at about $29,000. V Square Quantitative Management LLC bought a new position in Simpson Manufacturing in the 3rd quarter valued at about $34,000. Huntington National Bank grew its position in Simpson Manufacturing by 73.2% in the 3rd quarter. Huntington National Bank now owns 336 shares of the construction company’s stock valued at $64,000 after buying an additional 142 shares in the last quarter. GAMMA Investing LLC grew its position in Simpson Manufacturing by 93.9% in the 3rd quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock valued at $73,000 after buying an additional 184 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Simpson Manufacturing in the 2nd quarter valued at about $77,000. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

Shares of NYSE SSD opened at $180.37 on Friday. Simpson Manufacturing Co., Inc. has a twelve month low of $152.93 and a twelve month high of $218.38. The company has a current ratio of 3.53, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 23.83 and a beta of 1.32. The firm has a 50-day moving average of $185.76 and a two-hundred day moving average of $178.28.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. The business had revenue of $587.15 million during the quarter, compared to analyst estimates of $589.00 million. During the same period in the previous year, the company posted $2.43 earnings per share. Simpson Manufacturing’s revenue was up 1.2% compared to the same quarter last year. As a group, analysts expect that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Thursday, January 2nd. Simpson Manufacturing’s dividend payout ratio is presently 14.80%.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their price target on shares of Simpson Manufacturing from $202.00 to $218.00 and gave the company an “outperform” rating in a report on Monday, October 21st.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $187.46, for a total transaction of $281,190.00. Following the completion of the sale, the executive vice president now directly owns 8,438 shares of the company’s stock, valued at approximately $1,581,787.48. This represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Olosky sold 6,871 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $187.41, for a total transaction of $1,287,694.11. Following the sale, the chief executive officer now directly owns 19,534 shares of the company’s stock, valued at $3,660,866.94. This represents a 26.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,871 shares of company stock valued at $1,658,259. 0.42% of the stock is currently owned by corporate insiders.

Simpson Manufacturing Company Profile

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.