Simpson Manufacturing (NYSE:SSD) CEO Michael Olosky Sells 3,502 Shares of Stock

by · The Markets Daily

Simpson Manufacturing Company, Inc. (NYSE:SSDGet Free Report) CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total value of $605,285.68. Following the sale, the chief executive officer owned 51,398 shares in the company, valued at $8,883,630.32. This represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Simpson Manufacturing Stock Up 0.5%

SSD stock traded up $0.90 during midday trading on Friday, hitting $173.33. The stock had a trading volume of 144,598 shares, compared to its average volume of 283,826. The business has a 50-day moving average of $188.68 and a two-hundred day moving average of $186.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 18.94 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 52-week low of $156.32 and a 52-week high of $213.49.

Simpson Manufacturing (NYSE:SSDGet Free Report) last announced its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The business had revenue of $671.08 million during the quarter, compared to analyst estimates of $658.76 million. During the same quarter last year, the firm posted $2.47 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio (DPR) is 13.11%.

Hedge Funds Weigh In On Simpson Manufacturing

A number of hedge funds have recently added to or reduced their stakes in SSD. EverSource Wealth Advisors LLC boosted its stake in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after purchasing an additional 92 shares during the last quarter. Caitlin John LLC bought a new position in shares of Simpson Manufacturing during the second quarter valued at $27,000. Los Angeles Capital Management LLC purchased a new stake in shares of Simpson Manufacturing during the fourth quarter valued at $32,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Simpson Manufacturing during the third quarter valued at $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Simpson Manufacturing in the 1st quarter worth about $37,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Stifel Nicolaus boosted their price target on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. UBS Group reaffirmed a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Finally, Stephens lifted their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $216.25.

View Our Latest Report on SSD

About Simpson Manufacturing

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Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company’s product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.

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