Ipswich Investment Management Co. Inc. Sells 2,995 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Ipswich Investment Management Co. Inc. has reduced its stake in Simpson Manufacturing Company by 20% in Q2, selling 2,995 shares and now owning 11,995 shares valued at approximately $1.86 million.
• DA Davidson has raised their price target for Simpson Manufacturing from $185.00 to $190.00, maintaining a "neutral" rating on the stock.
• The company announced a quarterly dividend of $0.29 per share, with an ex-dividend date of October 2nd, reflecting an annualized yield of 0.7%.

Ipswich Investment Management Co. Inc. decreased its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 20.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,995 shares of the construction company's stock after selling 2,995 shares during the quarter. Ipswich Investment Management Co. Inc.'s holdings in Simpson Manufacturing were worth $1,863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in Simpson Manufacturing by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 1,973 shares of the construction company's stock valued at $327,000 after purchasing an additional 135 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Simpson Manufacturing by 148.3% during the 4th quarter. Two Sigma Advisers LP now owns 7,200 shares of the construction company's stock valued at $1,194,000 after buying an additional 4,300 shares in the last quarter. Two Sigma Investments LP bought a new position in Simpson Manufacturing in the 4th quarter worth approximately $253,000. Wellington Management Group LLP grew its stake in Simpson Manufacturing by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 84,197 shares of the construction company's stock valued at $13,962,000 after buying an additional 21,818 shares in the last quarter. Finally, First Hawaiian Bank raised its holdings in Simpson Manufacturing by 7.2% during the 1st quarter. First Hawaiian Bank now owns 1,527 shares of the construction company's stock valued at $240,000 after acquiring an additional 102 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, DA Davidson raised their price target on Simpson Manufacturing from $185.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $191.00.

Insider Buying and Selling

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the firm's 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 approximately $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Andersen sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the transaction, the executive vice president owned 7,810 shares in the company, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.42% of the company's stock.

Simpson Manufacturing Stock Down 1.1%

SSD stock opened at $170.97 on Friday. The company's 50 day moving average is $183.92 and its 200 day moving average is $165.73. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 21.81 and a beta of 1.30. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly 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. The business had revenue of $631.06 million during the quarter, compared to analysts' expectations of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 EPS. Sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is currently 14.80%.

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.

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