Parkside Financial Bank & Trust Boosts Holdings in Simpson Manufacturing Company, Inc. $SSD

Parkside Financial Bank & Trust increased its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 229.3% during the second quarter, HoldingsChannel reports. The firm owned 2,779 shares of the construction company’s stock after acquiring an additional 1,935 shares during the period. Parkside Financial Bank & Trust’s holdings in Simpson Manufacturing were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new stake in shares of Simpson Manufacturing during the 2nd quarter valued at approximately $31,000. CWM LLC increased its stake in 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 acquiring an additional 93 shares during the last quarter. Steph & Co. bought a new position in shares of Simpson Manufacturing in the second quarter worth approximately $53,000. Putney Financial Group LLC increased its holdings in shares of Simpson Manufacturing by 238.4% in the 2nd quarter. Putney Financial Group LLC now owns 379 shares of the construction company’s stock worth $59,000 after buying an additional 267 shares during the last quarter. Finally, Sprucegrove Investment Management Ltd. bought a new position in Simpson Manufacturing in the second quarter valued at $62,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Simpson Manufacturing

In other news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the transaction, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. This represents a 11.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

SSD has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Simpson Manufacturing in a research note on Wednesday, October 8th. Robert W. Baird raised their target price on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Finally, DA Davidson restated a “neutral” rating and set a $190.00 price target on shares of Simpson Manufacturing in a research report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $201.00.

Simpson Manufacturing Price Performance

NYSE SSD opened at $170.48 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.80 and a current ratio of 3.35. The stock has a 50-day moving average of $177.79 and a 200 day moving average of $170.26. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $197.82. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 20.76 and a beta of 1.27.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, October 27th. The construction company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.21. The company had revenue of $623.51 million for the quarter, compared to the consensus estimate of $607.79 million. Simpson Manufacturing had a net margin of 14.90% and a return on equity of 18.11%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. On average, sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 22nd. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, January 2nd. Simpson Manufacturing’s payout ratio is currently 14.13%.

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.