JPMorgan Chase & Co. Purchases 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. raised its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,747,872 shares of the construction company's stock after buying an additional 30,614 shares during the quarter. JPMorgan Chase & Co. owned 4.16% of Simpson Manufacturing worth $274,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC grew its stake in shares of Simpson Manufacturing by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,965 shares of the construction company's stock worth $466,000 after acquiring an additional 71 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Simpson Manufacturing by 1.4% during the 1st quarter. Apollon Wealth Management LLC now owns 5,404 shares of the construction company's stock valued at $849,000 after purchasing an additional 74 shares during the last quarter. Xponance Inc. lifted its holdings in Simpson Manufacturing by 1.5% during the 1st quarter. Xponance Inc. now owns 5,262 shares of the construction company's stock valued at $827,000 after purchasing an additional 78 shares during the last quarter. CWM LLC lifted its holdings in Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after purchasing an additional 93 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Simpson Manufacturing by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 10,127 shares of the construction company's stock valued at $1,591,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 93.68% of the company's stock.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing 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 value of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Simpson Manufacturing Stock Performance

SSD stock traded down $4.25 during trading hours on Friday, hitting $186.94. 288,280 shares of the stock were exchanged, compared to its average volume of 321,279. 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 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 50-day simple moving average of $166.64 and a two-hundred day simple moving average of $161.33. 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 posted its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 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 business had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. During the same quarter in the previous year, the firm earned $2.31 earnings per share. Simpson Manufacturing's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

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 given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's payout ratio is currently 14.80%.

Wall Street Analyst Weigh In

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

About Simpson Manufacturing

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.