Comerica Bank Has $4.64 Million Holdings in Simpson Manufacturing Company, Inc. (SSD)
Comerica Bank boosted its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 15.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 95,361 shares of the construction company’s stock after buying an additional 13,061 shares during the period. Comerica Bank owned 0.20% of Simpson Manufacturing worth $4,637,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of SSD. Riverhead Capital Management LLC grew its position in shares of Simpson Manufacturing by 62.3% during the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the construction company’s stock valued at $114,000 after purchasing an additional 996 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Simpson Manufacturing in the 2nd quarter valued at about $148,000. Verity Asset Management Inc. bought a new position in shares of Simpson Manufacturing in the 2nd quarter valued at about $205,000. Wrapmanager Inc. lifted its holdings in shares of Simpson Manufacturing by 3.5% in the 2nd quarter. Wrapmanager Inc. now owns 5,310 shares of the construction company’s stock valued at $232,000 after acquiring an additional 181 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its holdings in shares of Simpson Manufacturing by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,337 shares of the construction company’s stock valued at $233,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 83.55% of the company’s stock.
In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 24,973 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $49.07, for a total value of $1,225,425.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sharon H. Simpson sold 72,424 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $200,724.00, for a total transaction of $14,537,234,976.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 966,062 shares of company stock valued at $14,581,567,733. 0.36% of the stock is owned by insiders.
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A number of brokerages recently commented on SSD. Robert W. Baird raised shares of Simpson Manufacturing from a “neutral” rating to an “outperform” rating and increased their price target for the company from $50.00 to $58.00 in a report on Tuesday, October 31st. DA Davidson raised shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. BidaskClub downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Zacks Investment Research downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd.
Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) traded down $0.38 during trading hours on Friday, hitting $57.94. 172,700 shares of the company were exchanged, compared to its average volume of 215,732. Simpson Manufacturing Company, Inc. has a 1 year low of $39.82 and a 1 year high of $59.71. The company has a market cap of $2,741.36, a P/E ratio of 31.49, a price-to-earnings-growth ratio of 6.18 and a beta of 1.49.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, January 3rd. Simpson Manufacturing’s payout ratio is 41.58%.
Simpson Manufacturing announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 2nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Simpson Manufacturing Company Profile
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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