Putney Financial Group LLC Boosts Position in Simpson Manufacturing Company, Inc. $SSD

Putney Financial Group LLC boosted its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 238.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379 shares of the construction company’s stock after buying an additional 267 shares during the quarter. Putney Financial Group LLC’s holdings in Simpson Manufacturing were worth $59,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Simpson Manufacturing by 0.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,534,724 shares of the construction company’s stock worth $712,314,000 after acquiring an additional 40,461 shares during the period. JPMorgan Chase & Co. grew its stake in Simpson Manufacturing by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 1,747,872 shares of the construction company’s stock worth $274,556,000 after purchasing an additional 30,614 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in Simpson Manufacturing by 6.8% during the 1st quarter. Burgundy Asset Management Ltd. now owns 673,535 shares of the construction company’s stock worth $105,799,000 after purchasing an additional 43,099 shares during the period. Ameriprise Financial Inc. increased its holdings in Simpson Manufacturing by 8.0% during the 1st quarter. Ameriprise Financial Inc. now owns 627,696 shares of the construction company’s stock worth $98,602,000 after purchasing an additional 46,290 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Simpson Manufacturing by 0.7% in the 1st quarter. Northern Trust Corp now owns 556,097 shares of the construction company’s stock worth $87,352,000 after buying an additional 4,111 shares during the period. 93.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SSD. DA Davidson restated a “neutral” rating and set a $190.00 price target on shares of Simpson Manufacturing in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Simpson Manufacturing in a report on Wednesday, October 8th. Finally, Robert W. Baird raised their target price on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $201.00.

Simpson Manufacturing Trading Down 2.6%

Shares of NYSE SSD opened at $174.76 on Friday. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $197.82. The business has a fifty day moving average price of $180.44 and a 200 day moving average price of $168.94. The stock has a market capitalization of $7.27 billion, a P/E ratio of 21.29 and a beta of 1.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 1.80.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, October 27th. The construction company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.21. The business had revenue of $623.51 million during the quarter, compared to the consensus estimate of $607.79 million. Simpson Manufacturing had a net margin of 14.90% and a return on equity of 18.11%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. Equities research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 22nd. Investors of record on Friday, January 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.7%. Simpson Manufacturing’s dividend payout ratio is presently 14.13%.

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the sale, the executive vice president directly owned 7,810 shares in the company, valued at $1,531,775.30. This trade represents a 11.35% decrease in their ownership of the stock. The sale 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 insiders.

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.