Wealth Enhancement Advisory Services LLC Has $1.97 Million Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Simpson Manufacturing by 11.2% to 12,065 shares, valued at approximately $1.97 million.
• Several institutional investors have significantly increased their holdings in Simpson Manufacturing, with GAMMA Investing LLC expanding its stake by over 41,000% to 183,941 shares worth about $28.89 million.
• Simpson Manufacturing reported earnings of $2.47 per share, surpassing analysts' expectations, and announced a quarterly dividend of $0.29 per share, translating to an annual yield of 0.7%.

Wealth Enhancement Advisory Services LLC cut its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,065 shares of the construction company's stock after selling 1,525 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Simpson Manufacturing were worth $1,968,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SSD. GAMMA Investing LLC grew its stake in shares of Simpson Manufacturing by 41,328.2% in the 1st quarter. GAMMA Investing LLC now owns 183,941 shares of the construction company's stock valued at $28,893,000 after buying an additional 183,497 shares during the period. Nuveen LLC bought a new position in Simpson Manufacturing in the 1st quarter valued at about $15,567,000. Champlain Investment Partners LLC lifted its position in Simpson Manufacturing by 20.2% in the 1st quarter. Champlain Investment Partners LLC now owns 403,994 shares of the construction company's stock valued at $63,459,000 after acquiring an additional 67,943 shares in the last quarter. Raymond James Financial Inc. lifted its position in Simpson Manufacturing by 20.3% in the 1st quarter. Raymond James Financial Inc. now owns 396,291 shares of the construction company's stock valued at $62,249,000 after acquiring an additional 66,774 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Simpson Manufacturing by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock valued at $33,327,000 after acquiring an additional 64,114 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $170.97 on Monday. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82. The company's 50 day moving average price is $183.92 and its two-hundred day moving average price is $165.87. 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 stock has a market cap of $7.12 billion, a P/E ratio of 21.81 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its 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. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The firm had revenue of $631.06 million for the quarter, compared to analysts' expectations of $601.80 million. During the same quarter last year, the firm earned $2.31 EPS. The company's quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

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 given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. Simpson Manufacturing's dividend payout ratio (DPR) is currently 14.80%.

Wall Street Analyst Weigh In

Separately, DA Davidson raised their price target on shares of Simpson Manufacturing from $185.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Simpson Manufacturing currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.00.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction that occurred 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 transaction, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. This trade represents a 24.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction that occurred 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 completion of 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. 0.39% of the stock is owned by company insiders.

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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