Park Avenue Securities LLC Takes Position in Simpson Manufacturing Company, Inc. $SSD

Park Avenue Securities LLC purchased a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,019 shares of the construction company’s stock, valued at approximately $314,000.

Other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co grew its holdings in shares of Simpson Manufacturing by 30.2% in the second quarter. Diversified Trust Co now owns 5,563 shares of the construction company’s stock valued at $864,000 after acquiring an additional 1,290 shares in the last quarter. Voya Investment Management LLC grew its holdings in Simpson Manufacturing by 2.2% during the first quarter. Voya Investment Management LLC now owns 7,182 shares of the construction company’s stock valued at $1,128,000 after purchasing an additional 152 shares during the period. First Hawaiian Bank grew its holdings in Simpson Manufacturing by 7.2% during the first quarter. First Hawaiian Bank now owns 1,527 shares of the construction company’s stock valued at $240,000 after purchasing an additional 102 shares during the period. Strs Ohio bought a new position in Simpson Manufacturing during the first quarter valued at $1,103,000. Finally, Bayforest Capital Ltd bought a new position in Simpson Manufacturing during the first quarter valued at $72,000. 93.68% of the stock is owned by institutional investors and hedge funds.

Simpson Manufacturing Trading Up 0.1%

Shares of SSD stock opened at $167.76 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The company has a market capitalization of $6.98 billion, a PE ratio of 21.40 and a beta of 1.30. The business’s fifty day moving average is $184.21 and its 200 day moving average is $165.95.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data 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 return on equity of 17.72% and a net margin of 14.53%.The company had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. During the same quarter last year, the business posted $2.31 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.80%.

Insiders Place Their Bets

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction 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 sale, the executive vice president owned 7,794 shares in the company, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of the 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 sale, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. This trade represents a 11.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson increased their price objective on Simpson Manufacturing from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.00.

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.