Truist Financial Corp Has $507,000 Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Truist Financial Corp lifted its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSDFree Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,561 shares of the construction company’s stock after acquiring an additional 155 shares during the period. Truist Financial Corp’s holdings in Simpson Manufacturing were worth $507,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SSD. Invesco Ltd. increased its holdings in Simpson Manufacturing by 309.3% during the 3rd quarter. Invesco Ltd. now owns 482,881 shares of the construction company’s stock worth $72,340,000 after purchasing an additional 364,910 shares in the last quarter. FMR LLC raised its position in Simpson Manufacturing by 48.6% in the 3rd quarter. FMR LLC now owns 1,051,150 shares of the construction company’s stock valued at $157,473,000 after buying an additional 343,986 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Simpson Manufacturing by 31.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 591,941 shares of the construction company’s stock valued at $88,679,000 after acquiring an additional 140,401 shares in the last quarter. Comerica Bank boosted its holdings in Simpson Manufacturing by 669.6% during the 3rd quarter. Comerica Bank now owns 131,939 shares of the construction company’s stock worth $19,766,000 after acquiring an additional 114,795 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its holdings in Simpson Manufacturing by 1,190.4% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 34,840 shares of the construction company’s stock worth $5,219,000 after acquiring an additional 32,140 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SSD. StockNews.com lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th.

Check Out Our Latest Research Report on Simpson Manufacturing

Insider Transactions at Simpson Manufacturing

In related news, EVP Roger Dankel sold 850 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total transaction of $168,368.00. Following the transaction, the executive vice president now directly owns 28,764 shares in the company, valued at approximately $5,697,573.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Simpson Manufacturing news, EVP Roger Dankel sold 850 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $198.08, for a total value of $168,368.00. Following the sale, the executive vice president now owns 28,764 shares of the company’s stock, valued at approximately $5,697,573.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Phillip Burton sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $211.39, for a total transaction of $422,780.00. Following the completion of the transaction, the executive vice president now owns 4,044 shares in the company, valued at approximately $854,861.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,850 shares of company stock worth $941,408. Company insiders own 0.42% of the company’s stock.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $168.35 on Friday. The business has a 50-day simple moving average of $187.16 and a 200 day simple moving average of $183.45. Simpson Manufacturing Co., Inc. has a 52 week low of $117.08 and a 52 week high of $218.38. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 21.10 and a beta of 1.33. The company has a quick ratio of 2.19, a current ratio of 3.77 and a debt-to-equity ratio of 0.26.

Simpson Manufacturing (NYSE:SSDGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.07). Simpson Manufacturing had a return on equity of 20.51% and a net margin of 15.45%. The firm had revenue of $530.58 million for the quarter, compared to the consensus estimate of $549.87 million. During the same period last year, the firm earned $2.05 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts forecast that Simpson Manufacturing Co., Inc. will post 8.44 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 4th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.27. Simpson Manufacturing’s payout ratio is currently 13.53%.

Simpson Manufacturing Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Simpson Manufacturing (NYSE:SSD)

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