Citigroup Inc. Acquires 1,637 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Citigroup Inc. increased its holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 10.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,914 shares of the construction company’s stock after purchasing an additional 1,637 shares during the quarter. Citigroup Inc.’s holdings in Simpson Manufacturing were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of SSD. Signaturefd LLC boosted its position in Simpson Manufacturing by 276.4% during the 1st quarter. Signaturefd LLC now owns 271 shares of the construction company’s stock valued at $30,000 after acquiring an additional 199 shares in the last quarter. Quantbot Technologies LP bought a new stake in Simpson Manufacturing during the 1st quarter valued at approximately $30,000. Quadrant Capital Group LLC boosted its position in Simpson Manufacturing by 55.1% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the construction company’s stock valued at $32,000 after acquiring an additional 130 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Simpson Manufacturing during the 1st quarter valued at approximately $35,000. Finally, Harbor Investment Advisory LLC boosted its position in Simpson Manufacturing by 48.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 442 shares of the construction company’s stock valued at $48,000 after acquiring an additional 145 shares in the last quarter. 89.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. DA Davidson lifted their price objective on Simpson Manufacturing from $135.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, July 25th. StockNews.com started coverage on Simpson Manufacturing in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Robert W. Baird boosted their price target on Simpson Manufacturing from $176.00 to $190.00 in a research report on Tuesday, July 25th.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $156.56 on Thursday. The company has a quick ratio of 2.14, a current ratio of 3.46 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average price is $151.15 and its 200-day moving average price is $128.97. Simpson Manufacturing Co., Inc. has a 52 week low of $75.25 and a 52 week high of $166.02. The stock has a market cap of $6.68 billion, a P/E ratio of 19.67 and a beta of 1.23.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, July 24th. The construction company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.37. Simpson Manufacturing had a net margin of 15.78% and a return on equity of 23.43%. The company had revenue of $597.60 million during the quarter, compared to analyst estimates of $553.23 million. During the same period in the previous year, the business earned $2.16 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.22 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, October 26th. Investors of record on Thursday, October 5th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $1.08 dividend on an annualized basis and a yield of 0.69%. Simpson Manufacturing’s payout ratio is currently 13.57%.

Insider Buying and Selling

In other Simpson Manufacturing news, Director Philip E. Donaldson sold 675 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $157.94, for a total transaction of $106,609.50. Following the completion of the sale, the director now directly owns 6,549 shares in the company, valued at approximately $1,034,349.06. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Simpson Manufacturing news, EVP Roger Dankel sold 2,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $129.31, for a total transaction of $258,620.00. Following the completion of the sale, the executive vice president now directly owns 34,659 shares in the company, valued at approximately $4,481,755.29. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Philip E. Donaldson sold 675 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $157.94, for a total transaction of $106,609.50. Following the sale, the director now owns 6,549 shares of the company’s stock, valued at $1,034,349.06. The disclosure for this sale can be found here. Insiders sold a total of 6,175 shares of company stock worth $908,800 in the last three months. Insiders own 0.65% of the company’s stock.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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.