Whittier Trust Co. Boosts Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Whittier Trust Co. increased its holdings in Simpson Manufacturing Company by 2.3% during the second quarter, owning approximately 87,337 shares valued at $13.56 million as of the latest reporting period.
• Several institutional investors have modified their stakes in Simpson Manufacturing, with notable increases from Mutual of America Capital Management (up 120.9%) and Vest Financial (up 74.2%).
• Simpson Manufacturing reported better-than-expected earnings for the quarter, with an EPS of $2.47 compared to the consensus estimate of $2.39, and the company plans to pay a quarterly dividend of $0.29 on October 23rd.

Whittier Trust Co. raised its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,337 shares of the construction company's stock after buying an additional 1,979 shares during the period. Whittier Trust Co. owned about 0.21% of Simpson Manufacturing worth $13,564,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Klingman & Associates LLC purchased a new stake in shares of Simpson Manufacturing during the second quarter worth about $277,000. Mutual of America Capital Management LLC boosted its holdings in shares of Simpson Manufacturing by 120.9% during the second quarter. Mutual of America Capital Management LLC now owns 47,925 shares of the construction company's stock worth $7,443,000 after purchasing an additional 26,225 shares during the period. Moran Wealth Management LLC boosted its holdings in shares of Simpson Manufacturing by 1.9% during the second quarter. Moran Wealth Management LLC now owns 30,748 shares of the construction company's stock worth $4,775,000 after purchasing an additional 577 shares during the period. Vest Financial LLC boosted its holdings in shares of Simpson Manufacturing by 74.2% during the second quarter. Vest Financial LLC now owns 24,826 shares of the construction company's stock worth $3,856,000 after purchasing an additional 10,571 shares during the period. Finally, MGO One Seven LLC purchased a new stake in shares of Simpson Manufacturing during the second quarter worth about $1,265,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total transaction of $196,130.00. Following the completion of the transaction, the executive vice president owned 7,810 shares of the company's stock, valued at approximately $1,531,775.30. This trade represents a 11.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeremy Gilstrap sold 2,500 shares of the firm's 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 directly owned 7,794 shares of the company's stock, valued at $1,389,436.38. This represents a 24.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

SSD has been the subject of a number of analyst reports. DA Davidson increased their target price on shares of Simpson Manufacturing from $185.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, September 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Simpson Manufacturing in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Simpson Manufacturing has an average rating of "Hold" and a consensus target price of $191.00.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $176.08 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $197.82. The company has a 50-day simple moving average of $182.39 and a two-hundred day simple moving average of $167.32. The firm has a market capitalization of $7.33 billion, a PE ratio of 22.46 and a beta of 1.28.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. During the same period last year, the business posted $2.31 earnings per share. Simpson Manufacturing's quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

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

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