Raymond James Financial Inc. Buys 66,774 Shares of Simpson Manufacturing Company, Inc. $SSD

Raymond James Financial Inc. grew its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 396,291 shares of the construction company’s stock after acquiring an additional 66,774 shares during the quarter. Raymond James Financial Inc.’s holdings in Simpson Manufacturing were worth $62,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SSD. Quarry LP acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at approximately $28,000. Investment Management Corp VA ADV acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at approximately $28,000. Harbor Capital Advisors Inc. acquired a new position in shares of Simpson Manufacturing in the 1st quarter valued at approximately $45,000. CWM LLC grew its position in shares of Simpson Manufacturing by 39.1% in the 1st quarter. CWM LLC now owns 331 shares of the construction company’s stock valued at $52,000 after purchasing an additional 93 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Simpson Manufacturing by 1,070.0% in the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company’s stock valued at $55,000 after purchasing an additional 321 shares during the period. 93.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, DA Davidson boosted their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $188.50.

Simpson Manufacturing Trading Down 1.9%

NYSE:SSD opened at $188.2730 on Thursday. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $168.47 and a two-hundred day moving average price of $161.81. The company has a market cap of $7.84 billion, a P/E ratio of 24.01 and a beta of 1.26.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.08. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The firm had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. During the same quarter in the prior year, the firm posted $2.31 EPS. The business’s revenue was up 5.7% on a year-over-year basis. As a group, analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is 14.80%.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the transaction, the executive vice president owned 7,794 shares of the company’s stock, valued at $1,389,436.38. This represents a 24.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is currently owned by company insiders.

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.