Envestnet Portfolio Solutions Inc. Has $406,000 Stock Position in Simpson Manufacturing Company, Inc. $SSD

Envestnet Portfolio Solutions Inc. decreased its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 11.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,612 shares of the construction company’s stock after selling 323 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Simpson Manufacturing were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Vest Financial LLC boosted its position in Simpson Manufacturing by 74.2% during the 2nd quarter. Vest Financial LLC now owns 24,826 shares of the construction company’s stock worth $3,856,000 after acquiring an additional 10,571 shares during the period. MGO One Seven LLC acquired a new stake in Simpson Manufacturing during the 2nd quarter worth about $1,265,000. Allspring Global Investments Holdings LLC boosted its position in Simpson Manufacturing by 13.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 348,523 shares of the construction company’s stock worth $55,819,000 after acquiring an additional 41,310 shares during the period. Inspire Investing LLC boosted its position in Simpson Manufacturing by 16.9% during the 2nd quarter. Inspire Investing LLC now owns 3,051 shares of the construction company’s stock worth $474,000 after acquiring an additional 442 shares during the period. Finally, Callan Family Office LLC boosted its position in Simpson Manufacturing by 1,060.0% during the 2nd quarter. Callan Family Office LLC now owns 50,598 shares of the construction company’s stock worth $7,858,000 after acquiring an additional 46,236 shares during the period. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Down 1.5%

SSD opened at $174.51 on Thursday. The business has a 50 day moving average price of $181.76 and a 200 day moving average price of $167.44. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month 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 cap of $7.26 billion, a P/E ratio of 22.26 and a beta of 1.28.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The firm had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. During the same period in the previous year, the company earned $2.31 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. DA Davidson lifted their price target on Simpson Manufacturing from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. 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, Simpson Manufacturing has a consensus rating of “Hold” and an average target price of $191.00.

Insider Activity at Simpson Manufacturing

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the sale, the executive vice president directly owned 7,794 shares in the company, valued at approximately $1,389,436.38. The trade was a 24.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the sale, the executive vice president owned 7,810 shares of the company’s stock, valued at approximately $1,531,775.30. This trade represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Simpson Manufacturing Company 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.