Envestnet Asset Management Inc. Sells 3,200 Shares of Simpson Manufacturing Company, Inc. $SSD

Envestnet Asset Management Inc. reduced its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,639 shares of the construction company’s stock after selling 3,200 shares during the period. Envestnet Asset Management Inc. owned approximately 0.40% of Simpson Manufacturing worth $26,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SSD. Ameritas Advisory Services LLC purchased a new position in Simpson Manufacturing in the second quarter worth about $31,000. CWM LLC lifted its stake in shares of Simpson Manufacturing by 39.1% in the 1st quarter. CWM LLC now owns 331 shares of the construction company’s stock worth $52,000 after purchasing an additional 93 shares during the period. Steph & Co. purchased a new position in shares of Simpson Manufacturing in the second quarter worth approximately $53,000. Bayforest Capital Ltd bought a new stake in Simpson Manufacturing during the first quarter valued at approximately $72,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Simpson Manufacturing by 50.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 548 shares of the construction company’s stock valued at $85,000 after buying an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

SSD has been the topic of several analyst reports. DA Davidson reiterated a “neutral” rating and set a $190.00 price target on shares of Simpson Manufacturing in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Simpson Manufacturing in a report on Wednesday, October 8th. Finally, Robert W. Baird boosted their price target on Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $201.00.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the sale, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. The trade was a 11.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Simpson Manufacturing Trading Down 1.6%

Shares of SSD stock opened at $173.62 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.80 and a current ratio of 3.35. The stock has a fifty day simple moving average of $179.60 and a two-hundred day simple moving average of $169.61. The firm has a market capitalization of $7.23 billion, a PE ratio of 21.15 and a beta of 1.28. 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 released its earnings results on Monday, October 27th. The construction company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.21. Simpson Manufacturing had a return on equity of 18.11% and a net margin of 14.90%.The firm had revenue of $623.51 million during the quarter, compared to analysts’ expectations of $607.79 million. During the same quarter last year, the business posted $2.21 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 22nd. Investors of record on Friday, January 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, January 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.13%.

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.