Simpson Manufacturing Company, Inc. $SSD Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its holdings in Simpson Manufacturing Company by 5.3%, now owning 222,478 shares valued at approximately $34.9 million.
• Simpson Manufacturing recently declared a quarterly dividend of $0.29 per share, with an annualized dividend yield of 0.6%, payable on October 23rd.
• Wall Street analysts have raised the price target for Simpson Manufacturing from $180.00 to $185.00 and given it a "neutral" rating, with a consensus price target of $188.50.

Royal Bank of Canada decreased its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,478 shares of the construction company's stock after selling 12,546 shares during the quarter. Royal Bank of Canada owned 0.53% of Simpson Manufacturing worth $34,948,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SSD. Investment Management Corp VA ADV acquired a new position in Simpson Manufacturing during the fourth quarter worth $28,000. Harbor Capital Advisors Inc. acquired a new stake in Simpson Manufacturing in the first quarter valued at $45,000. CWM LLC increased 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 buying an additional 93 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock worth $55,000 after buying an additional 321 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of Simpson Manufacturing during the 1st quarter worth $72,000. Institutional investors and hedge funds own 93.68% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson increased their price objective 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 research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Simpson Manufacturing has a consensus rating of "Moderate Buy" and a consensus price target of $188.50.

Simpson Manufacturing Stock Performance

NYSE SSD opened at $195.82 on Friday. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The business has a fifty day moving average of $177.27 and a 200-day moving average of $163.69. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 24.98 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $601.80 million. During the same quarter last year, the company earned $2.31 earnings per share. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. The ex-dividend date 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 14.80%.

Insider Buying and Selling

In other Simpson Manufacturing news, 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 in the company, valued at approximately $1,389,436.38. The trade was a 24.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Andersen sold 1,000 shares of the 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 transaction, the executive vice president directly owned 7,810 shares in the company, valued at approximately $1,531,775.30. This represents a 11.35% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.42% of the company's stock.

Simpson Manufacturing Company 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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