NewEdge Wealth LLC Sells 3,553 Shares of Simpson Manufacturing Company, Inc. $SSD

NewEdge Wealth LLC cut its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 12.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,993 shares of the construction company’s stock after selling 3,553 shares during the quarter. NewEdge Wealth LLC owned 0.06% of Simpson Manufacturing worth $4,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted 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 last quarter. V Square Quantitative Management LLC bought a new position in shares of Simpson Manufacturing in the 4th quarter valued at $28,000. Los Angeles Capital Management LLC acquired a new position in shares of Simpson Manufacturing during the 4th quarter worth $32,000. Brown Brothers Harriman & Co. acquired a new position in shares of Simpson Manufacturing during the 3rd quarter worth $34,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Simpson Manufacturing by 33.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock worth $37,000 after buying an additional 57 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

Shares of Simpson Manufacturing stock opened at $193.58 on Friday. The business has a 50-day simple moving average of $192.35 and a 200 day simple moving average of $186.69. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 22.69 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm had revenue of $587.96 million for the quarter, compared to the consensus estimate of $550.08 million. During the same quarter in the prior year, the company posted $1.85 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.07 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio is currently 14.07%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stephens raised their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Robert W. Baird boosted their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Weiss Ratings cut shares of Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. DA Davidson upped their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Finally, Stifel Nicolaus raised their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $214.75.

Simpson Manufacturing Profile

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.