Vestmark Advisory Solutions Inc. Acquires 30,148 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Simpson Manufacturing by 92.1%, owning a total of 62,884 shares valued at approximately $9.88 million as of the latest quarter.
• The company's quarterly earnings showed growth with an EPS of $2.47, surpassing analysts' expectations by $0.08, and a revenue of $631.06 million, reflecting a year-over-year increase of 5.7%.
• Simpson Manufacturing announced a quarterly dividend of $0.29 per share, with the ex-dividend date set for October 2nd, which represents a 0.6% dividend yield annually.

Vestmark Advisory Solutions Inc. raised its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 92.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,884 shares of the construction company's stock after acquiring an additional 30,148 shares during the quarter. Vestmark Advisory Solutions Inc. owned about 0.15% of Simpson Manufacturing worth $9,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Kestra Private Wealth Services LLC grew its position 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 buying an additional 71 shares during the period. Apollon Wealth Management LLC grew its position in shares of Simpson Manufacturing by 1.4% during the 1st quarter. Apollon Wealth Management LLC now owns 5,404 shares of the construction company's stock worth $849,000 after buying an additional 74 shares during the period. Xponance Inc. grew its position in shares of Simpson Manufacturing by 1.5% during the 1st quarter. Xponance Inc. now owns 5,262 shares of the construction company's stock worth $827,000 after buying an additional 78 shares during the period. CWM LLC grew its position in shares of Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after buying an additional 93 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of 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 worth $1,591,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds 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 the 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 transaction, the executive vice president owned 7,794 shares in the company, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

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

Simpson Manufacturing Trading Up 1.4%

Shares of SSD traded up $2.5780 during trading hours on Tuesday, reaching $190.6180. The stock had a trading volume of 50,295 shares, compared to its average volume of 277,106. 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 52 week low of $137.35 and a 52 week high of $197.82. The firm has a 50-day moving average of $167.23 and a 200 day moving average of $161.41. The company has a market cap of $7.93 billion, a P/E ratio of 24.30 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 for the quarter, beating the consensus estimate of $2.39 by $0.08. The company had revenue of $631.06 million during the quarter, compared to analysts' expectations of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. On average, sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is 14.80%.

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.