Raymond James Financial Inc. Takes $54.64 Million Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Raymond James Financial Inc. acquired a new position in Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 329,517 shares of the construction company's stock, valued at approximately $54,644,000. Raymond James Financial Inc. owned 0.78% of Simpson Manufacturing at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SSD. Park Place Capital Corp purchased a new position in shares of Simpson Manufacturing in the fourth quarter valued at $29,000. World Investment Advisors LLC bought a new position in Simpson Manufacturing in the 3rd quarter worth about $30,000. R Squared Ltd purchased a new position in Simpson Manufacturing during the 4th quarter valued at about $30,000. UMB Bank n.a. increased its position in shares of Simpson Manufacturing by 88.2% during the fourth quarter. UMB Bank n.a. now owns 207 shares of the construction company's stock valued at $34,000 after buying an additional 97 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Simpson Manufacturing in the third quarter worth about $37,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total value of $169,980.00. Following the transaction, the executive vice president now owns 8,810 shares in the company, valued at $1,497,523.80. This trade represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Remove Ads

Simpson Manufacturing Price Performance

SSD traded up $3.70 on Friday, reaching $158.09. The company had a trading volume of 269,299 shares, compared to its average volume of 268,209. Simpson Manufacturing Co., Inc. has a 52-week low of $153.87 and a 52-week high of $208.12. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 20.80 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 3.21. The business has a 50 day simple moving average of $166.02 and a 200 day simple moving average of $176.81.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. As a group, sell-side analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.71%. Simpson Manufacturing's dividend payout ratio is 14.74%.

Analysts Set New Price Targets

SSD has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. DA Davidson reduced their price target on shares of Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a research report on Tuesday.

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.