Simpson Manufacturing Company, Inc. (NYSE:SSD) major shareholder Sharon H. Simpson sold 54,992 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $52.83, for a total transaction of $2,905,227.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) traded up $0.15 during mid-day trading on Friday, reaching $58.00. 317,091 shares of the company’s stock were exchanged, compared to its average volume of 269,803. Simpson Manufacturing Company, Inc. has a one year low of $39.82 and a one year high of $59.71. The stock has a market capitalization of $2,750.00, a P/E ratio of 30.95, a PEG ratio of 6.07 and a beta of 1.50.
Simpson Manufacturing declared that its Board of Directors has approved a share repurchase program on Wednesday, August 2nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Thursday, January 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, January 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 41.38%.
A number of hedge funds have recently modified their holdings of SSD. Macquarie Group Ltd. purchased a new position in Simpson Manufacturing during the third quarter worth about $103,000. Riverhead Capital Management LLC increased its position in shares of Simpson Manufacturing by 62.3% during the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the construction company’s stock valued at $114,000 after acquiring an additional 996 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Simpson Manufacturing during the second quarter valued at about $148,000. Verity Asset Management Inc. acquired a new stake in shares of Simpson Manufacturing during the second quarter valued at about $205,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Simpson Manufacturing by 12.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,261 shares of the construction company’s stock valued at $227,000 after acquiring an additional 600 shares during the last quarter. 84.30% of the stock is currently owned by institutional investors.
SSD has been the topic of several recent analyst reports. Robert W. Baird reaffirmed a “hold” rating and set a $46.00 price objective on shares of Simpson Manufacturing in a report on Friday, October 20th. BidaskClub downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, July 25th. Finally, DA Davidson raised shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 31st.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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