Truist Financial Corp Boosts Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Truist Financial Corp raised its position in Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 426.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,628 shares of the construction company's stock after purchasing an additional 10,231 shares during the quarter. Truist Financial Corp's holdings in Simpson Manufacturing were worth $2,128,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SSD. Vanguard Group Inc. raised its stake in Simpson Manufacturing by 6.6% in the first quarter. Vanguard Group Inc. now owns 4,487,095 shares of the construction company's stock worth $920,662,000 after buying an additional 278,283 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Simpson Manufacturing in the 2nd quarter worth $35,884,000. The Manufacturers Life Insurance Company lifted its stake in shares of Simpson Manufacturing by 336.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 224,517 shares of the construction company's stock worth $37,838,000 after purchasing an additional 173,097 shares during the last quarter. Nia Impact Advisors LLC bought a new stake in Simpson Manufacturing during the second quarter valued at about $15,010,000. Finally, Millennium Management LLC raised its holdings in Simpson Manufacturing by 57.8% in the second quarter. Millennium Management LLC now owns 201,685 shares of the construction company's stock worth $33,990,000 after purchasing an additional 73,872 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Stock Up 1.3 %

NYSE:SSD traded up $2.52 during midday trading on Friday, reaching $191.29. 169,879 shares of the stock traded hands, compared to its average volume of 282,385. The stock has a market capitalization of $8.06 billion, a PE ratio of 24.56 and a beta of 1.32. Simpson Manufacturing Co., Inc. has a 12-month low of $123.93 and a 12-month high of $218.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.21 and a current ratio of 3.69. The business has a 50-day moving average of $182.08 and a two-hundred day moving average of $178.90.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, July 22nd. The construction company reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.13). The business had revenue of $596.98 million during the quarter, compared to analyst estimates of $604.67 million. Simpson Manufacturing had a return on equity of 19.42% and a net margin of 15.03%. The firm's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.50 EPS. On average, equities analysts forecast that Simpson Manufacturing Co., Inc. will post 8.1 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. Simpson Manufacturing's payout ratio is 14.38%.

Insiders Place Their Bets

In other Simpson Manufacturing news, Director James S. Andrasick sold 500 shares of Simpson Manufacturing 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 completion of the sale, the director now owns 866 shares of the company's stock, valued at approximately $154,797.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director James S. Andrasick sold 500 shares of Simpson Manufacturing stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $178.75, for a total transaction of $89,375.00. Following the completion of the transaction, the director now directly owns 866 shares in the company, valued at approximately $154,797.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Roger Dankel sold 2,700 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $190.44, for a total transaction of $514,188.00. Following the sale, the executive vice president now directly owns 24,064 shares in the company, valued at $4,582,748.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,571 shares of company stock valued at $2,348,027. Insiders own 0.42% of the company's stock.

Simpson Manufacturing Company 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.