Meridian Wealth Management LLC Invests $1.08 Million in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Key Points

• Meridian Wealth Management LLC has acquired 6,901 shares of Simpson Manufacturing Company, valued at approximately $1,084,000, in the first quarter of the year.
• Simpson Manufacturing's stock price increased by 3.9%, opening at $188.51, with a market capitalization of $7.85 billion.
• The company announced a quarterly dividend of $0.29 per share, with a payment date of October 23rd, reflecting its ongoing commitment to shareholder returns.

Meridian Wealth Management LLC acquired a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,901 shares of the construction company's stock, valued at approximately $1,084,000.

Several other institutional investors also recently modified their holdings of SSD. LPL Financial LLC increased its stake in shares of Simpson Manufacturing by 37.4% during the 4th quarter. LPL Financial LLC now owns 9,913 shares of the construction company's stock worth $1,644,000 after purchasing an additional 2,697 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Simpson Manufacturing by 70.3% during the 4th quarter. Franklin Resources Inc. now owns 4,890 shares of the construction company's stock worth $811,000 after buying an additional 2,019 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Simpson Manufacturing by 313.0% during the 4th quarter. Russell Investments Group Ltd. now owns 11,201 shares of the construction company's stock worth $1,858,000 after buying an additional 8,489 shares during the period. Bank of Montreal Can boosted its holdings in shares of Simpson Manufacturing by 27.3% during the 4th quarter. Bank of Montreal Can now owns 6,780 shares of the construction company's stock worth $1,124,000 after buying an additional 1,453 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Simpson Manufacturing by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 18,630 shares of the construction company's stock worth $3,089,000 after buying an additional 110 shares during the period. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Performance

Shares of SSD stock traded down $4.25 during midday trading on Friday, hitting $186.94. 288,280 shares of the company were exchanged, compared to its average volume of 321,279. The firm has a market capitalization of $7.78 billion, a P/E ratio of 23.84 and a beta of 1.26. 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's 50 day moving average price is $166.64 and its two-hundred day moving average price is $161.33. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its earnings results on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.39 by $0.08. The business had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. Simpson Manufacturing's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 EPS. As a group, equities research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing's payout ratio is currently 14.80%.

Analyst Upgrades and Downgrades

Separately, DA Davidson lifted their target price on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The shares were 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 owned 7,794 shares of the company's stock, valued at $1,389,436.38. The trade was a 24.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.42% of the stock is owned by corporate insiders.

Simpson Manufacturing 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.