Simpson Manufacturing (NYSE:SSD) CEO Michael Olosky Sells 3,502 Shares of Stock

Simpson Manufacturing Company, Inc. (NYSE:SSD) CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the sale, the chief executive officer directly owned 51,398 shares in the company, valued at approximately $8,883,630.32. The trade was a 6.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Simpson Manufacturing Trading Up 0.5%

Shares of SSD opened at $173.33 on Friday. The company has a market capitalization of $7.13 billion, a P/E ratio of 18.94 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The stock has a 50-day moving average price of $188.14 and a 200 day moving average price of $186.55.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The company had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. During the same period in the previous year, the business earned $2.47 EPS. Simpson Manufacturing’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s payout ratio is 13.11%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Stephens boosted their target price on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research report on Tuesday, July 28th. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Finally, Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $216.25.

Hedge Funds Weigh In On Simpson Manufacturing

A number of hedge funds have recently added to or reduced their stakes in the business. Candriam S.C.A. bought a new stake in shares of Simpson Manufacturing during the 1st quarter valued at about $7,133,000. Deutsche Bank AG acquired a new stake in Simpson Manufacturing during the second quarter worth about $1,495,000. Polar Asset Management Partners Inc. bought a new position in Simpson Manufacturing in the second quarter worth about $5,255,000. Cooke & Bieler LP lifted its holdings in Simpson Manufacturing by 77.9% in the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock worth $20,940,000 after acquiring an additional 56,769 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Simpson Manufacturing in the first quarter valued at approximately $4,424,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company’s product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.