Vest Financial LLC Acquires 2,705 Shares of Simpson Manufacturing Company, Inc. $SSD

Vest Financial LLC raised its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,049 shares of the construction company’s stock after acquiring an additional 2,705 shares during the quarter. Vest Financial LLC’s holdings in Simpson Manufacturing were worth $7,185,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Caitlin John LLC purchased a new position in shares of Simpson Manufacturing in the second quarter valued at about $27,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Simpson Manufacturing during the first quarter worth about $37,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Simpson Manufacturing during the second quarter worth about $61,000. Fiduciary Financial Advisors purchased a new stake in shares of Simpson Manufacturing during the second quarter worth about $76,000. Finally, Versant Capital Management Inc raised its stake in Simpson Manufacturing by 41.8% during the 2nd quarter. Versant Capital Management Inc now owns 387 shares of the construction company’s stock valued at $81,000 after purchasing an additional 114 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SSD has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stephens increased their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Simpson Manufacturing currently has a consensus rating of “Hold” and a consensus target price of $216.25.

Insider Buying and Selling

In related news, CEO Michael Olosky sold 3,502 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total transaction of $605,285.68. Following the completion of the transaction, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at approximately $8,883,630.32. This represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Simpson Manufacturing Stock Up 3.7%

SSD opened at $186.81 on Friday. The firm has a 50-day simple moving average of $178.11 and a two-hundred day simple moving average of $185.47. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49. The company has a market capitalization of $7.69 billion, a PE ratio of 20.42 and a beta of 1.32. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results 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 firm had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. During the same period in the previous year, the firm posted $2.47 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Analysts forecast that Simpson Manufacturing Company, Inc. will post 9.30 earnings per share for the current fiscal year.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications ranging from new construction to repair, remodeling and retrofit projects.

The company is best known for its Simpson Strong-Tie brand, which offers structural connectors, fasteners, anchors, specialty products, adhesives and related installation systems.