Axxcess Wealth Management LLC Lowers Stock Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Axxcess Wealth Management LLC cut its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 17.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,838 shares of the construction company’s stock after selling 382 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Simpson Manufacturing were worth $352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SSD. EntryPoint Capital LLC acquired a new position in shares of Simpson Manufacturing during the 1st quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in Simpson Manufacturing in the third quarter worth about $34,000. GAMMA Investing LLC boosted its position in Simpson Manufacturing by 93.9% during the 3rd quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock valued at $73,000 after purchasing an additional 184 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Simpson Manufacturing in the second quarter valued at approximately $77,000. Finally, Summit Securities Group LLC acquired a new position in shares of Simpson Manufacturing during the second quarter valued at $80,000. 93.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted their target price on Simpson Manufacturing from $202.00 to $218.00 and gave the stock an “outperform” rating in a report on Monday, October 21st.

Simpson Manufacturing Stock Performance

Shares of NYSE SSD opened at $184.00 on Thursday. The stock’s fifty day simple moving average is $185.35 and its 200 day simple moving average is $178.22. The company has a quick ratio of 1.99, a current ratio of 3.53 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 24.31 and a beta of 1.32. Simpson Manufacturing Co., Inc. has a 52-week low of $150.27 and a 52-week high of $218.38.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. The business had revenue of $587.15 million during the quarter, compared to analysts’ expectations of $589.00 million. During the same quarter in the previous year, the company earned $2.43 EPS. Simpson Manufacturing’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Thursday, January 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.80%.

Insiders Place Their Bets

In other news, Director James S. Andrasick sold 500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total transaction of $89,375.00. Following the transaction, the director now owns 866 shares in the company, valued at approximately $154,797.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James S. Andrasick sold 500 shares of the company’s 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 $154,797.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Olosky sold 6,871 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $187.41, for a total transaction of $1,287,694.11. Following the completion of the sale, the chief executive officer now directly owns 19,534 shares of the company’s stock, valued at approximately $3,660,866.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,871 shares of company stock valued at $1,658,259 in the last three months. 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.