Simpson Manufacturing Company, Inc. $SSD Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc reduced its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 17.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 318 shares of the construction company’s stock after selling 68 shares during the period. AdvisorNet Financial Inc’s holdings in Simpson Manufacturing were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC grew its position in Simpson Manufacturing by 41,328.2% in the first quarter. GAMMA Investing LLC now owns 183,941 shares of the construction company’s stock worth $28,893,000 after acquiring an additional 183,497 shares during the period. Nuveen LLC acquired a new stake in Simpson Manufacturing during the first quarter worth approximately $15,567,000. Champlain Investment Partners LLC grew its holdings in shares of Simpson Manufacturing by 20.2% during the first quarter. Champlain Investment Partners LLC now owns 403,994 shares of the construction company’s stock worth $63,459,000 after purchasing an additional 67,943 shares during the last quarter. Raymond James Financial Inc. increased its position in Simpson Manufacturing by 20.3% during the first quarter. Raymond James Financial Inc. now owns 396,291 shares of the construction company’s stock worth $62,249,000 after buying an additional 66,774 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Simpson Manufacturing by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company’s stock worth $33,327,000 after purchasing an additional 64,114 shares during the period. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $170.97 on Friday. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 21.81 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. The business’s 50 day simple moving average is $183.92 and its 200-day simple moving average is $165.73. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82.

Simpson Manufacturing (NYSE:SSD) last announced its 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. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The company had revenue of $631.06 million during the quarter, compared to analysts’ expectations of $601.80 million. During the same quarter in the previous year, the business posted $2.31 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing’s dividend payout ratio is currently 14.80%.

Insider Buying and Selling at Simpson Manufacturing

In related news, EVP Michael Andersen sold 1,000 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president directly owned 7,810 shares in the company, valued at approximately $1,531,775.30. This represents a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction on Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the transaction, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. The trade was a 24.29% decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upped their price objective on Simpson Manufacturing from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Simpson Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $191.00.

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.