Insider Selling: Simpson Manufacturing Co. (SSD) COO Sells $152,602.80 in Stock
Simpson Manufacturing Co. (NYSE:SSD) COO Ricardo M. Arevalo sold 3,437 shares of Simpson Manufacturing stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $44.40, for a total value of $152,602.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Simpson Manufacturing Co. (NYSE:SSD) opened at 44.47 on Wednesday. The stock has a market cap of $2.15 billion, a P/E ratio of 27.45 and a beta of 1.49. Simpson Manufacturing Co. has a 12 month low of $30.25 and a 12 month high of $45.39. The stock has a 50 day moving average price of $43.18 and a 200-day moving average price of $39.78.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The business earned $230 million during the quarter, compared to analyst estimates of $227.12 million. Simpson Manufacturing had a return on equity of 9.17% and a net margin of 9.50%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. On average, analysts forecast that Simpson Manufacturing Co. will post $1.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Saturday, October 8th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Wednesday, October 5th. Simpson Manufacturing’s payout ratio is currently 44.44%.
A number of equities research analysts have recently commented on SSD shares. Zacks Investment Research downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Sidoti started coverage on Simpson Manufacturing in a research report on Friday, September 9th. They issued a “neutral” rating for the company.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Simpson Manufacturing by 135.5% in the first quarter. BlackRock Inc. now owns 3,073 shares of the company’s stock worth $117,000 after buying an additional 1,768 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Simpson Manufacturing during the second quarter worth about $129,000. US Bancorp DE raised its position in shares of Simpson Manufacturing by 34.3% in the second quarter. US Bancorp DE now owns 3,555 shares of the company’s stock worth $142,000 after buying an additional 908 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Simpson Manufacturing by 77.3% in the second quarter. Victory Capital Management Inc. now owns 3,576 shares of the company’s stock worth $143,000 after buying an additional 1,559 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Simpson Manufacturing during the second quarter worth about $201,000. 81.48% of the stock is owned by hedge funds and other institutional investors.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems and lateral systems used in light-frame construction. It also offers concrete construction products used for concrete, masonry, steel and for concrete repair, protection and strengthening, including adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforced materials.
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