44,419 Simpson Manufacturing Company, Inc. $SSD Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Simpson Manufacturing stake by 88.3%, selling 44,419 shares in the third quarter and retaining 5,865 shares valued at approximately $1.0 million.
• Simpson Manufacturing reported strong quarterly results, with EPS of $3.09 and revenue of $671.08 million, exceeding analyst estimates; revenue increased 6.3% year over year.
• The company declared a quarterly dividend of $0.30 per share, while analysts maintained a mixed outlook with a consensus “Hold” rating and $216.25 price target.

Curated Wealth Partners LLC lowered its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 88.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,865 shares of the construction company's stock after selling 44,419 shares during the period. Curated Wealth Partners LLC's holdings in Simpson Manufacturing were worth $1,002,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitlin John LLC purchased a new position in shares of Simpson Manufacturing during the second quarter valued at $27,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Simpson Manufacturing in the 1st quarter worth about $37,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Simpson Manufacturing during the 2nd quarter worth about $61,000. Fiduciary Financial Advisors acquired a new stake in Simpson Manufacturing during the 2nd quarter worth about $76,000. Finally, Versant Capital Management Inc boosted its position in Simpson Manufacturing by 41.8% during the 2nd quarter. Versant Capital Management Inc now owns 387 shares of the construction company's stock worth $81,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 93.68% of the company's stock.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $175.24 on Friday. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 19.15 and a beta of 1.32. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $179.73 and a 200 day simple moving average of $185.06.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%. The company had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. During the same period in the prior year, the firm posted $2.47 EPS. The business's revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.30 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. Simpson Manufacturing's payout ratio is presently 13.11%.

Analysts Set New Price Targets

SSD has been the topic of a number of research reports. Weiss Ratings upgraded Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Stifel Nicolaus raised their price target on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Stephens raised their price target on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a "cautious" rating in a report on Tuesday, July 28th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Simpson Manufacturing has an average rating of "Hold" and a consensus price target of $216.25.

Insider Activity at Simpson Manufacturing

In related news, CEO Michael Olosky sold 3,502 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the transaction, the chief executive officer owned 51,398 shares in the company, valued at approximately $8,883,630.32. This represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company's stock.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for wood, concrete and masonry construction. Its products are used to connect and reinforce building components in residential, commercial and industrial projects, as well as in infrastructure and seismic-strengthening applications.

The company's offerings include structural connectors, fasteners, anchors, adhesives, reinforcing products and other building-system components. Through its Simpson Strong-Tie brand, Simpson also provides engineered systems, technical support, design tools, training and construction software intended to help contractors, engineers and building professionals design and install structural connections.

Founded in 1956, Simpson Manufacturing primarily serves customers through operations and distribution networks in the United States, Canada and Europe.

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