Simpson Manufacturing Co, Inc. (NYSE:SSD) major shareholder Sharon H. Simpson sold 21,553 shares of the firm’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $57.35, for a total value of $1,236,064.55. Following the completion of the sale, the insider now directly owns 719,269 shares of the company’s stock, valued at approximately $41,250,077.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of SSD opened at $56.82 on Friday. Simpson Manufacturing Co, Inc. has a one year low of $39.82 and a one year high of $61.62. The stock has a market cap of $2,710.05, a price-to-earnings ratio of 32.43, a PEG ratio of 4.36 and a beta of 1.48.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, February 5th. The construction company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.10). Simpson Manufacturing had a return on equity of 9.64% and a net margin of 9.48%. The firm had revenue of $231.68 million for the quarter, compared to analyst estimates of $224.47 million. During the same period in the prior year, the firm posted $0.37 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. equities analysts forecast that Simpson Manufacturing Co, Inc. will post 2.66 earnings per share for the current year.
SSD has been the subject of a number of research reports. DA Davidson cut Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a research report on Thursday, December 14th. Sidoti initiated coverage on Simpson Manufacturing in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 price target for the company. Robert W. Baird reaffirmed a “buy” rating and set a $64.00 price target on shares of Simpson Manufacturing in a research report on Tuesday, January 9th. Finally, Zacks Investment Research cut Simpson Manufacturing from a “hold” rating to a “strong sell” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Simpson Manufacturing has an average rating of “Hold” and an average price target of $63.75.
A number of institutional investors and hedge funds have recently modified their holdings of SSD. Macquarie Group Ltd. acquired a new stake in Simpson Manufacturing during the 3rd quarter worth about $103,000. Renaissance Technologies LLC acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $207,000. Shelton Capital Management acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $209,000. Xact Kapitalforvaltning AB acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $220,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $229,000. 88.51% of the stock is owned by institutional investors.
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About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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