JPMorgan Chase & Co. Buys 30,614 Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD)

Key Points

• JPMorgan Chase & Co. increased its holdings in Simpson Manufacturing by 1.8% in the first quarter, now owning approximately 4.16% of the company, worth $274.6 million.
• DA Davidson raised its target price for Simpson Manufacturing from $180 to $185, maintaining a "neutral" rating on the stock.
• Simpson Manufacturing recently announced a quarterly dividend of $0.29, resulting in a 0.6% dividend yield and a payout ratio of 14.80%.

JPMorgan Chase & Co. lifted its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,747,872 shares of the construction company's stock after acquiring an additional 30,614 shares during the period. JPMorgan Chase & Co. owned 4.16% of Simpson Manufacturing worth $274,556,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $28,000. Investment Management Corp VA ADV bought a new stake in Simpson Manufacturing during the fourth quarter worth approximately $28,000. Harbor Capital Advisors Inc. bought a new stake in shares of Simpson Manufacturing in the first quarter valued at approximately $45,000. CWM LLC boosted its position in shares of Simpson Manufacturing by 39.1% in the first 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. lifted 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 period. Institutional investors own 93.68% of the company's stock.

Analyst Ratings Changes

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

Simpson Manufacturing Stock Down 2.2%

Shares of NYSE:SSD traded down $4.25 during trading on Friday, hitting $186.94. 288,280 shares of the company's stock traded hands, compared to its average volume of 321,279. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 23.84 and a beta of 1.26. The company has a 50-day moving average price of $166.64 and a 200-day moving average price of $161.37.

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, beating the consensus estimate of $2.39 by $0.08. The firm had revenue of $631.06 million for the quarter, compared to analysts' expectations of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%. 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 business posted $2.31 EPS. As a group, research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing's payout ratio is presently 14.80%.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction on 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 of the company's stock, valued at $1,389,436.38. This represents a 24.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company's stock.

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.