Raymond James Trust N.A. Grows Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Raymond James Trust N.A. raised its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,950 shares of the construction company’s stock after acquiring an additional 742 shares during the quarter. Raymond James Trust N.A.’s holdings in Simpson Manufacturing were worth $947,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Simpson Manufacturing in the first quarter valued at about $29,000. V Square Quantitative Management LLC purchased a new position in Simpson Manufacturing in the third quarter valued at about $34,000. Prospera Private Wealth LLC purchased a new position in Simpson Manufacturing in the third quarter valued at about $37,000. Huntington National Bank boosted its stake in Simpson Manufacturing by 73.2% in the third quarter. Huntington National Bank now owns 336 shares of the construction company’s stock valued at $64,000 after acquiring an additional 142 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Simpson Manufacturing by 93.9% in the third quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock valued at $73,000 after acquiring an additional 184 shares during the last quarter. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Performance

NYSE SSD opened at $184.77 on Monday. The company’s 50 day moving average is $186.37 and its 200-day moving average is $178.36. Simpson Manufacturing Co., Inc. has a 12-month low of $157.42 and a 12-month high of $218.38. The company has a quick ratio of 1.99, a current ratio of 3.53 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.79 billion, a P/E ratio of 24.41 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.19). Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. The business had revenue of $587.15 million during the quarter, compared to the consensus estimate of $589.00 million. During the same period last year, the firm earned $2.43 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts predict that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 2nd will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, January 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.80%.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their target price on shares of Simpson Manufacturing from $202.00 to $218.00 and gave the company an “outperform” rating in a research note on Monday, October 21st.

Insider Activity

In related news, Director James S. Andrasick sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total transaction of $89,375.00. Following the sale, the director now owns 866 shares of the company’s stock, valued at approximately $154,797.50. This represents a 36.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

Simpson Manufacturing 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.