Portside Wealth Group LLC Invests $202,000 in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Portside Wealth Group LLC acquired a new stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) during the third quarter, HoldingsChannel reports. The fund acquired 1,057 shares of the construction company’s stock, valued at approximately $202,000.

Several other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Simpson Manufacturing by 76.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,343 shares of the construction company’s stock worth $686,000 after acquiring an additional 1,447 shares during the period. Hancock Whitney Corp acquired a new stake in shares of Simpson Manufacturing in the 1st quarter valued at approximately $1,712,000. Vanguard Group Inc. boosted its stake in shares of Simpson Manufacturing by 6.6% in the first quarter. Vanguard Group Inc. now owns 4,487,095 shares of the construction company’s stock valued at $920,662,000 after buying an additional 278,283 shares in the last quarter. BOKF NA grew its holdings in Simpson Manufacturing by 77.1% during the first quarter. BOKF NA now owns 1,725 shares of the construction company’s stock worth $347,000 after acquiring an additional 751 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Simpson Manufacturing by 24.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,301 shares of the construction company’s stock worth $3,139,000 after acquiring an additional 3,040 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, Director James S. Andrasick sold 500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total value of $89,375.00. Following the sale, the director now owns 866 shares of the company’s stock, valued at $154,797.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Simpson Manufacturing news, EVP Michael Andersen sold 1,500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $187.46, for a total value of $281,190.00. Following the transaction, the executive vice president now directly owns 8,438 shares in the company, valued at approximately $1,581,787.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James S. Andrasick sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $178.75, for a total transaction of $89,375.00. Following the sale, the director now directly owns 866 shares in the company, valued at $154,797.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,871 shares of company stock valued at $1,658,259. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

Simpson Manufacturing Price Performance

SSD stock opened at $189.25 on Friday. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 25.00 and a beta of 1.32. The company has a current ratio of 3.53, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $184.80 and a 200-day moving average of $177.91. Simpson Manufacturing Co., Inc. has a 12-month low of $140.62 and a 12-month high of $218.38.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, October 21st. The construction company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The firm had revenue of $587.15 million for the quarter, compared to analysts’ expectations of $589.00 million. During the same quarter in the previous year, the firm posted $2.43 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that Simpson Manufacturing Co., Inc. will post 7.55 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 2nd will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. Simpson Manufacturing’s dividend payout ratio is presently 14.80%.

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.