Posted by admin on Jul 29th, 2022

Truist Financial Corp increased its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Rating) by 46.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,836 shares of the construction company’s stock after purchasing an additional 893 shares during the quarter. Truist Financial Corp’s holdings in Simpson Manufacturing were worth $309,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SSD. Capital International Investors increased its position in Simpson Manufacturing by 603.5% during the 4th quarter. Capital International Investors now owns 1,902,658 shares of the construction company’s stock worth $264,603,000 after purchasing an additional 1,632,209 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Simpson Manufacturing during the 4th quarter worth approximately $72,098,000. Loomis Sayles & Co. L P acquired a new position in Simpson Manufacturing during the 4th quarter worth approximately $39,489,000. TD Asset Management Inc. acquired a new position in Simpson Manufacturing during the 4th quarter worth approximately $9,486,000. Finally, Epoch Investment Partners Inc. acquired a new position in Simpson Manufacturing in the 4th quarter valued at approximately $9,486,000. 91.44% of the stock is currently owned by institutional investors and hedge funds.

SSD has been the subject of several recent research reports. Robert W. Baird upped their price target on shares of Simpson Manufacturing from $136.00 to $145.00 in a research report on Tuesday, April 26th. StockNews.com cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday.

In other news, CEO Karen Winifred Colonias sold 15,000 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $110.46, for a total value of $1,656,900.00. Following the sale, the chief executive officer now directly owns 33,423 shares of the company’s stock, valued at approximately $3,691,904.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Karen Winifred Colonias sold 15,000 shares of the stock in a transaction on Monday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $1,656,900.00. Following the transaction, the chief executive officer now directly owns 33,423 shares of the company’s stock, valued at $3,691,904.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian J. Magstadt sold 2,500 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $102.39, for a total transaction of $255,975.00. Following the transaction, the chief financial officer now directly owns 22,547 shares in the company, valued at $2,308,587.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,380 shares of company stock valued at $2,429,487. 0.60% of the stock is currently owned by insiders.

Shares of NYSE SSD opened at $101.82 on Friday. The firm has a 50 day moving average price of $102.94 and a two-hundred day moving average price of $109.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.40 and a current ratio of 5.85. Simpson Manufacturing Co., Inc. has a 52-week low of $87.73 and a 52-week high of $141.26. The stock has a market cap of $4.39 billion, a P/E ratio of 13.43 and a beta of 1.19.

Simpson Manufacturing (NYSE:SSD – Get Rating) last posted its quarterly earnings data on Monday, July 25th. The construction company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. Simpson Manufacturing had a net margin of 17.44% and a return on equity of 28.12%. The company had revenue of $593.23 million for the quarter, compared to analyst estimates of $579.84 million. During the same period in the prior year, the firm posted $1.66 EPS. The company’s quarterly revenue was up 44.6% on a year-over-year basis. As a group, equities analysts forecast that Simpson Manufacturing Co., Inc. will post 7.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 28th. Stockholders of record on Thursday, July 7th were paid a $0.26 dividend. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Wednesday, July 6th. Simpson Manufacturing’s dividend payout ratio is currently 13.59%.

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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.

Want to see what other hedge funds are holding SSD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Rating).

Receive News & Ratings for Simpson Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.

Truist Financial Corp Has $316,000 Stake in SPDR S&P Emerging Markets Dividend ETF (NYSEARCA:EDIV)

Comerica Bank Buys 1,198 Shares of Innoviva, Inc. (NASDAQ:INVA)