Park Avenue Securities LLC Cuts Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Park Avenue Securities LLC decreased its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 24.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,043 shares of the construction company’s stock after selling 335 shares during the period. Park Avenue Securities LLC’s holdings in Simpson Manufacturing were worth $214,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SSD. Contravisory Investment Management Inc. purchased a new stake in Simpson Manufacturing during the 4th quarter worth about $29,000. GAMMA Investing LLC purchased a new stake in Simpson Manufacturing during the 4th quarter worth about $35,000. Headlands Technologies LLC purchased a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $37,000. Rise Advisors LLC purchased a new position in shares of Simpson Manufacturing in the 1st quarter valued at about $37,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Up 0.7 %

Shares of NYSE SSD opened at $165.00 on Wednesday. The stock has a market cap of $6.96 billion, a PE ratio of 20.68 and a beta of 1.32. The company has a quick ratio of 2.19, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. Simpson Manufacturing Co., Inc. has a 52-week low of $123.93 and a 52-week high of $218.38. The business has a 50-day moving average price of $170.32 and a 200 day moving average price of $184.99.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.07). The firm had revenue of $530.58 million during the quarter, compared to analyst estimates of $549.87 million. Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. Equities research analysts forecast that Simpson Manufacturing Co., Inc. will post 8.44 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 4th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. Simpson Manufacturing’s dividend payout ratio is 13.53%.

Insider Activity at Simpson Manufacturing

In related news, EVP Roger Dankel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $175.13, for a total value of $350,260.00. Following the completion of the sale, the executive vice president now directly owns 26,764 shares of the company’s stock, valued at approximately $4,687,179.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Simpson Manufacturing news, EVP Jennifer Lutz sold 750 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $171.14, for a total transaction of $128,355.00. Following the completion of the sale, the executive vice president now directly owns 5,033 shares of the company’s stock, valued at approximately $861,347.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Roger Dankel sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $175.13, for a total value of $350,260.00. Following the sale, the executive vice president now directly owns 26,764 shares of the company’s stock, valued at $4,687,179.32. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SSD. StockNews.com downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Robert W. Baird increased their price objective on Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, April 18th.

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.