Simpson Manufacturing Company, Inc. (NYSE:SSD) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 11.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,824 shares of the construction company’s stock after purchasing an additional 181 shares during the period. PNC Financial Services Group Inc.’s holdings in Simpson Manufacturing were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SSD. Quarry LP purchased a new stake in shares of Simpson Manufacturing in the fourth quarter worth about $28,000. Investment Management Corp VA ADV purchased a new stake in shares of Simpson Manufacturing in the fourth quarter worth about $28,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Simpson Manufacturing in the first quarter worth about $45,000. CWM LLC boosted its stake in shares of Simpson Manufacturing by 39.1% in the first quarter. CWM LLC now owns 331 shares of the construction company’s stock worth $52,000 after buying an additional 93 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company’s stock worth $55,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upped their target price on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th.

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is currently owned by company insiders.

Simpson Manufacturing Stock Down 2.2%

Shares of SSD opened at $186.94 on Friday. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 23.84 and a beta of 1.26. The stock’s 50-day moving average price is $166.64 and its 200-day moving average price is $161.33. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.08. The company had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%. Simpson Manufacturing’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 earnings per share. On average, sell-side analysts predict that Simpson Manufacturing Company, 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, October 23rd. Stockholders of record on Thursday, October 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.80%.

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.