Simpson Manufacturing Company, Inc. $SSD Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Simpson Manufacturing by 0.7%, now owning approximately 1.32% of the company, valued at $87.35 million.
• DA Davidson raised the price target for Simpson Manufacturing from $180.00 to $185.00, reflecting a neutral rating for the stock.
• The company recently announced a quarterly dividend of $0.29 per share, with a dividend yield of 0.6%, scheduled for payment on October 23rd.

Northern Trust Corp raised its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 556,097 shares of the construction company's stock after buying an additional 4,111 shares during the period. Northern Trust Corp owned approximately 1.32% of Simpson Manufacturing worth $87,352,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Simpson Manufacturing during the 4th quarter worth $28,000. Investment Management Corp VA ADV purchased a new stake in shares of Simpson Manufacturing in the fourth quarter valued at about $28,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Simpson Manufacturing in the first quarter valued at about $45,000. CWM LLC increased its stake in shares of Simpson Manufacturing by 39.1% during the first quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after acquiring an additional 93 shares during the period. Finally, Blue Trust Inc. raised its holdings in Simpson Manufacturing by 1,070.0% during 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 in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction on Friday, August 1st. The shares were sold at an average price of $178.27, for a total transaction of $445,675.00. Following the sale, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. The trade was a 24.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction on Monday, August 25th. The stock was sold at an average price of $196.13, for a total transaction of $196,130.00. Following the sale, the executive vice president directly owned 7,810 shares in the company, valued at $1,531,775.30. This trade represents a 11.35% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.42% of the company's stock.

Simpson Manufacturing Trading Down 1.1%

NYSE SSD traded down $2.03 during mid-day trading on Friday, reaching $190.91. 224,715 shares of the stock were exchanged, compared to its average volume of 268,976. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $197.82. The business's fifty day simple moving average is $173.96 and its 200 day simple moving average is $163.09. The stock has a market capitalization of $7.95 billion, a PE ratio of 24.35 and a beta of 1.26. 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 (NYSE:SSD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. The company had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. Simpson Manufacturing's revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 earnings per share. On average, research analysts anticipate 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. Stockholders 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 dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is currently 14.80%.

Wall Street Analyst Weigh In

Separately, DA Davidson increased their price target on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $188.50.

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.