Tower View Wealth Management LLC Trims Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Tower View Wealth Management LLC trimmed its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 58.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,544 shares of the construction company's stock after selling 5,089 shares during the quarter. Tower View Wealth Management LLC's holdings in Simpson Manufacturing were worth $702,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new position in Simpson Manufacturing in the fourth quarter valued at $29,000. Arlington Trust Co LLC purchased a new position in shares of Simpson Manufacturing in the 3rd quarter worth about $31,000. GAMMA Investing LLC acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $35,000. Headlands Technologies LLC purchased a new stake in shares of Simpson Manufacturing during the 4th quarter worth about $37,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Simpson Manufacturing during the 4th quarter worth approximately $54,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Roger Dankel sold 850 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total value of $168,368.00. Following the transaction, the executive vice president now owns 28,764 shares in the company, valued at $5,697,573.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Jennifer Chatman sold 934 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the sale, the director now owns 14,638 shares of the company's stock, valued at approximately $2,817,522.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roger Dankel sold 850 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total transaction of $168,368.00. Following the transaction, the executive vice president now directly owns 28,764 shares in the company, valued at approximately $5,697,573.12. The disclosure for this sale can be found here. Insiders have sold 3,784 shares of company stock valued at $770,924 in the last quarter. Company insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Simpson Manufacturing from a "hold" rating to a "buy" rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their target price on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, April 18th.

Simpson Manufacturing Stock Up 1.1 %

Shares of SSD stock traded up $1.95 during trading hours on Wednesday, reaching $175.84. The company had a trading volume of 408,963 shares, compared to its average volume of 264,189. The stock's fifty day simple moving average is $194.96 and its 200 day simple moving average is $180.11. The company has a market capitalization of $7.47 billion, a P/E ratio of 21.90 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.19 and a current ratio of 3.77. Simpson Manufacturing Co., Inc. has a twelve month low of $117.08 and a twelve month high of $218.38.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.07). Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The firm had revenue of $530.58 million during the quarter, compared to analyst estimates of $549.87 million. During the same period last year, the business earned $2.05 EPS. The firm's revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that Simpson Manufacturing Co., Inc. will post 8.44 earnings per share for the current fiscal year.

About Simpson Manufacturing

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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