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

Simpson Manufacturing Company, Inc. (NYSE:SSDGet Free Report) CEO Michael Olosky sold 3,502 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total transaction of $605,285.68. Following the completion of the transaction, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at approximately $8,883,630.32. The trade was a 6.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Simpson Manufacturing Price Performance

Shares of NYSE SSD traded up $0.90 during midday trading on Friday, reaching $173.33. 144,598 shares of the company were exchanged, compared to its average volume of 283,826. The stock’s 50-day moving average price is $188.68 and its 200-day moving average price is $186.64. The stock has a market cap of $7.13 billion, a P/E ratio of 18.94 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSDGet Free Report) last announced its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The company had revenue of $671.08 million during the quarter, compared to analysts’ expectations of $658.76 million. During the same period in the prior year, the company earned $2.47 EPS. Simpson Manufacturing’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be given a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.7%. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.11%.

Hedge Funds Weigh In On Simpson Manufacturing

Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its position in shares of Simpson Manufacturing by 33.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock worth $37,000 after purchasing an additional 57 shares during the period. NewEdge Advisors LLC increased its position in shares of Simpson Manufacturing by 3.8% during the second quarter. NewEdge Advisors LLC now owns 1,679 shares of the construction company’s stock valued at $351,000 after buying an additional 62 shares during the period. SkyView Investment Advisors LLC raised its stake in Simpson Manufacturing by 0.6% in the fourth quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock worth $1,981,000 after buying an additional 77 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Simpson Manufacturing by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock worth $4,236,000 after buying an additional 89 shares in the last quarter. Finally, HB Wealth Management LLC lifted its holdings in Simpson Manufacturing by 6.0% in the second quarter. HB Wealth Management LLC now owns 1,598 shares of the construction company’s stock worth $335,000 after buying an additional 90 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Analysis on SSD

Simpson Manufacturing Company Profile

(Get Free Report)

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.

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