Klingman & Associates LLC Acquires New Stake in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Klingman & Associates LLC has acquired a new stake in Simpson Manufacturing Company totaling 1,783 shares worth approximately $277,000.
• Simpson Manufacturing recently reported an EPS of $2.47 for the last quarter, exceeding expectations by $0.08, with a revenue of $631.06 million.
• The company declared a quarterly dividend of $0.29 per share, representing a 0.7% dividend yield, payable on October 23rd.

Klingman & Associates LLC acquired a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,783 shares of the construction company's stock, valued at approximately $277,000.

A number of other large investors also recently bought and sold shares of the business. Kestra Private Wealth Services LLC boosted its holdings in 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 valued at $466,000 after acquiring an additional 71 shares during the period. Apollon Wealth Management LLC boosted 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 acquiring an additional 74 shares during the period. Xponance Inc. boosted 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 acquiring an additional 78 shares during the period. CWM LLC boosted 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 acquiring an additional 93 shares during the period. Finally, State of Michigan Retirement System boosted 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 acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 93.68% of the company's stock.

Analysts Set New Price Targets

SSD has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Simpson Manufacturing in a report on Wednesday, October 8th. DA Davidson lifted their target price on Simpson Manufacturing from $185.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Simpson Manufacturing presently has a consensus rating of "Hold" and an average target price of $191.00.

Simpson Manufacturing Trading Up 0.6%

Shares of NYSE SSD opened at $177.07 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $182.16 and a two-hundred day simple moving average of $167.39. The firm has a market cap of $7.37 billion, a PE ratio of 22.58 and a beta of 1.28. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month 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 the consensus estimate of $2.39 by $0.08. The firm had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 EPS. Analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. 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 Michael Andersen sold 1,000 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 7,810 shares of the company's stock, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeremy Gilstrap sold 2,500 shares of the business'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 completion of the transaction, the executive vice president directly owned 7,794 shares of the company's stock, valued at approximately $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.39% 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.

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