Simpson Manufacturing Company, Inc. $SSD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 42.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 810,940 shares of the construction company’s stock after selling 605,844 shares during the period. JPMorgan Chase & Co. owned 1.96% of Simpson Manufacturing worth $135,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after purchasing an additional 92 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Simpson Manufacturing by 322.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock worth $28,000 after buying an additional 129 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Simpson Manufacturing by 98.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company’s stock valued at $49,000 after buying an additional 144 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Simpson Manufacturing in the third quarter valued at approximately $56,000. Finally, Putney Financial Group LLC grew its position in Simpson Manufacturing by 238.4% in the second quarter. Putney Financial Group LLC now owns 379 shares of the construction company’s stock worth $59,000 after acquiring an additional 267 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

Shares of Simpson Manufacturing stock opened at $200.09 on Friday. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 24.25 and a beta of 1.37. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.54 and a quick ratio of 1.99. The business has a 50-day moving average of $181.54 and a 200 day moving average of $178.52. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $211.98.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, February 9th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The company had revenue of $539.35 million for the quarter, compared to analyst estimates of $530.70 million. During the same period in the prior year, the firm earned $1.31 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, April 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.06%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SSD. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Stephens set a $200.00 price objective on shares of Simpson Manufacturing in a report on Tuesday, February 10th. Robert W. Baird set a $222.00 target price on shares of Simpson Manufacturing in a research report on Tuesday, February 10th. Finally, DA Davidson lifted their price target on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.33.

Insider Activity at Simpson Manufacturing

In other news, Director Philip E. Donaldson sold 2,375 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $168.16, for a total transaction of $399,380.00. Following the sale, the director owned 6,086 shares of the company’s stock, valued at approximately $1,023,421.76. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.