6,901 Shares in Simpson Manufacturing Company, Inc. (NYSE:SSD) Acquired by Meridian Wealth Management LLC

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 stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,901 shares of the construction company's stock, valued at approximately $1,084,000.

Several other hedge funds have also bought and sold shares of the business. Quarry LP bought a new stake in Simpson Manufacturing in the 4th quarter valued at about $28,000. Investment Management Corp VA ADV bought a new stake in Simpson Manufacturing in the 4th quarter valued at about $28,000. Harbor Capital Advisors Inc. bought a new stake in Simpson Manufacturing in the 1st quarter valued at about $45,000. CWM LLC raised its stake in Simpson Manufacturing by 39.1% in the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after acquiring an additional 93 shares during the period. Finally, Blue Trust Inc. raised its stake in Simpson Manufacturing by 1,070.0% in the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 93.68% of the company's stock.

Simpson Manufacturing Trading Down 2.2%

Shares of Simpson Manufacturing stock traded down $4.25 during midday trading on Friday, reaching $186.94. 288,280 shares of the company's stock traded hands, compared to its average volume of 278,848. 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 company has a market cap of $7.78 billion, a PE ratio of 23.84 and a beta of 1.26. The stock has a 50 day moving average of $166.04 and a 200-day moving average of $161.23. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82.

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

Simpson Manufacturing Announces Dividend

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

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the transaction, the executive vice president directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.