Janney Montgomery Scott LLC Sells 82,910 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Janney Montgomery Scott LLC significantly reduced its stake in Simpson Manufacturing Company, selling 82,910 shares and now holding just 2,963 shares valued at approximately $460,000.
• Several institutional investors have recently adjusted their positions, with CWM LLC increasing its stake by 39.1% in the first quarter, while institutional investors own 93.68% of the company's stock.
• Simpson Manufacturing's recent quarterly earnings beat expectations with an EPS of $2.47, and the company announced a quarterly dividend of $0.29, representing an annualized yield of 0.7%.

Janney Montgomery Scott LLC lowered its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 96.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,963 shares of the construction company's stock after selling 82,910 shares during the quarter. Janney Montgomery Scott LLC's holdings in Simpson Manufacturing were worth $460,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CWM LLC boosted its position in Simpson Manufacturing by 39.1% in the first quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after purchasing an additional 93 shares during the last quarter. Steph & Co. purchased a new position in Simpson Manufacturing in the second quarter worth $53,000. Blue Trust Inc. boosted its position in Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock worth $55,000 after purchasing an additional 321 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Simpson Manufacturing in the first quarter worth $72,000. Finally, Quarry LP boosted its position in Simpson Manufacturing by 539.6% in the first quarter. Quarry LP now owns 1,081 shares of the construction company's stock worth $170,000 after purchasing an additional 912 shares during the last quarter. Institutional investors own 93.68% of the company's stock.

Analyst Upgrades and Downgrades

SSD has been the topic of several research analyst reports. DA Davidson boosted their price objective on Simpson Manufacturing from $185.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Weiss Ratings reissued a "hold (c+)" rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Simpson Manufacturing currently has a consensus rating of "Hold" and a consensus target price of $191.00.

Simpson Manufacturing Stock Performance

NYSE:SSD opened at $174.24 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 22.22 and a beta of 1.28. The business's fifty day moving average is $182.50 and its 200 day moving average is $166.92.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, beating 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 company had revenue of $631.06 million for the quarter, compared to analyst estimates of $601.80 million. During the same period in the previous year, the company posted $2.31 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is currently 14.80%.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president directly owned 7,794 shares in the company, valued at $1,389,436.38. This represents a 24.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Andersen sold 1,000 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. This represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

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.

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