Balboa Wealth Partners Trims Stake in Simpson Manufacturing Company, Inc. $SSD

Balboa Wealth Partners trimmed its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 8.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,491 shares of the construction company’s stock after selling 221 shares during the period. Balboa Wealth Partners’ holdings in Simpson Manufacturing were worth $387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Simpson Manufacturing in the 2nd quarter worth $31,000. CWM LLC increased 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 in the last quarter. Steph & Co. purchased a new stake in shares of Simpson Manufacturing in the 2nd quarter worth $53,000. Blue Trust Inc. increased its stake in shares of Simpson Manufacturing by 1,070.0% in the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company’s stock worth $55,000 after purchasing an additional 321 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Simpson Manufacturing in the 1st quarter worth $72,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. DA Davidson upped their price objective on Simpson Manufacturing from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Simpson Manufacturing in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $191.00.

Simpson Manufacturing Trading Up 1.0%

Shares of SSD stock opened at $176.08 on Tuesday. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The firm has a market capitalization of $7.33 billion, a PE ratio of 22.46 and a beta of 1.28. The stock has a fifty day simple moving average of $182.39 and a two-hundred day simple moving average of $167.32.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results 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. The business had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.Simpson Manufacturing’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 EPS. On average, analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

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

Insider Transactions at Simpson Manufacturing

In other news, EVP Michael Andersen sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $196.13, for a total transaction of $196,130.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeremy Gilstrap sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares of the company’s stock, valued at approximately $1,389,436.38. The trade was a 24.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Simpson Manufacturing Profile

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.