Simplex Trading LLC Sells 3,489 Shares of Simpson Manufacturing Company, Inc. $SSD

Simplex Trading LLC cut its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 94.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211 shares of the construction company’s stock after selling 3,489 shares during the quarter. Simplex Trading LLC’s holdings in Simpson Manufacturing were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in Simpson Manufacturing by 4.6% during the 3rd quarter. Alps Advisors Inc. now owns 28,146 shares of the construction company’s stock valued at $4,810,000 after buying an additional 1,249 shares in the last quarter. Heritage Family Offices LLP purchased a new position in Simpson Manufacturing during the third quarter valued at $71,000. Provenance Wealth Advisors LLC bought a new stake in Simpson Manufacturing in the third quarter worth $203,000. Putney Financial Group LLC bought a new stake in Simpson Manufacturing in the third quarter worth $31,000. Finally, Vise Technologies Inc. boosted its holdings in Simpson Manufacturing by 25.1% in the third quarter. Vise Technologies Inc. now owns 5,004 shares of the construction company’s stock worth $855,000 after acquiring an additional 1,005 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SSD has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Simpson Manufacturing in a research note on Thursday, October 22nd. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stephens decreased their target price on shares of Simpson Manufacturing from $215.00 to $205.00 and set a “cautious” rating for the company in a report on Tuesday, October 27th. Robert W. Baird upped their target price on shares of Simpson Manufacturing from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 27th. Finally, Stifel Nicolaus reduced their price target on shares of Simpson Manufacturing from $218.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, October 26th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Simpson Manufacturing currently has a consensus rating of “Hold” and a consensus target price of $207.00.

Insider Transactions at Simpson Manufacturing

In other news, CEO Michael Olosky sold 3,502 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $172.84, for a total transaction of $605,285.68. Following the sale, the chief executive officer owned 51,398 shares of the company’s stock, valued at $8,883,630.32. This trade represents a 6.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Simpson Manufacturing Trading Down 1.1%

Shares of NYSE:SSD opened at $201.83 on Wednesday. The company has a market cap of $8.18 billion, a P/E ratio of 21.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.37 and a quick ratio of 2.20. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The stock’s fifty day moving average price is $180.27 and its 200-day moving average price is $185.98.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, October 26th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.44 by $0.24. Simpson Manufacturing had a return on equity of 18.23% and a net margin of 15.62%. The company had revenue of $638.13 million during the quarter, compared to the consensus estimate of $624.39 million. During the same period last year, the company earned $2.58 EPS. Simpson Manufacturing’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 9.34 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 28th. Shareholders of record on Thursday, January 7th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, January 7th. This represents a $1.20 annualized dividend and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is currently 12.97%.

Simpson Manufacturing declared that its board has authorized a stock repurchase plan on Monday, October 26th that authorizes the company to repurchase $1 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 13.2% of its shares through open market purchases. Share buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Simpson Manufacturing

Simpson Manufacturing Co., Inc. designs, manufactures and sells structural building products and construction solutions, primarily through its Simpson Strong-Tie brand. Its products are used in residential, commercial and industrial construction, as well as in repair and retrofit projects. The company’s offerings include connectors and fasteners, anchors and adhesives, engineered lateral-force-resisting systems, and prefabricated building components. It also provides construction-related software and services to support the design and installation of its products.