Raymond James Financial Inc. Buys 66,774 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Raymond James Financial Inc. increased its stake in Simpson Manufacturing Company, Inc. by 20.3%, now owning 396,291 shares, valued at approximately $62.25 million.
• Simpson Manufacturing reported earnings of $2.47 per share, exceeding expectations, with a quarterly revenue of $631.06 million, an increase of 5.7% compared to the previous year.
• The company declared a quarterly dividend of $0.29, representing an annualized dividend of $1.16 and a yield of 0.6%.

Raymond James Financial Inc. boosted its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 20.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,291 shares of the construction company's stock after buying an additional 66,774 shares during the period. Raymond James Financial Inc. owned about 0.94% of Simpson Manufacturing worth $62,249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Cresset Asset Management LLC boosted its stake in Simpson Manufacturing by 13.3% during the first quarter. Cresset Asset Management LLC now owns 1,589 shares of the construction company's stock worth $250,000 after buying an additional 186 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in Simpson Manufacturing by 92.1% during the first quarter. Vestmark Advisory Solutions Inc. now owns 62,884 shares of the construction company's stock worth $9,878,000 after buying an additional 30,148 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Simpson Manufacturing by 111.0% during the first quarter. Russell Investments Group Ltd. now owns 23,633 shares of the construction company's stock worth $3,712,000 after buying an additional 12,432 shares in the last quarter. HighTower Advisors LLC boosted its stake in Simpson Manufacturing by 101.1% during the first quarter. HighTower Advisors LLC now owns 15,449 shares of the construction company's stock worth $2,427,000 after buying an additional 7,766 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in Simpson Manufacturing during the first quarter worth $1,084,000. Institutional investors and hedge funds own 93.68% of the company's stock.

Simpson Manufacturing Price Performance

Shares of Simpson Manufacturing stock traded down $2.03 during trading on Monday, reaching $195.05. The company's stock had a trading volume of 105,856 shares, compared to its average volume of 278,569. The stock has a 50-day moving average price of $169.94 and a two-hundred day moving average price of $162.11. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $197.82. The stock has a market capitalization of $8.12 billion, a P/E ratio of 24.94 and a beta of 1.26.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $631.06 million during 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 firm'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 business posted $2.31 earnings per share. As a group, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's payout ratio is currently 14.80%.

Analyst Ratings Changes

Separately, DA Davidson boosted their target price on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. One equities 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 currently has an average rating of "Moderate Buy" and an average target price of $188.50.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.