Balboa Wealth Partners Decreases Stock Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Balboa Wealth Partners reduced its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,712 shares of the construction company’s stock after selling 396 shares during the quarter. Balboa Wealth Partners’ holdings in Simpson Manufacturing were worth $519,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SSD. Vanguard Group Inc. lifted its position in shares of Simpson Manufacturing by 6.6% during the first quarter. Vanguard Group Inc. now owns 4,487,095 shares of the construction company’s stock worth $920,662,000 after purchasing an additional 278,283 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Simpson Manufacturing during the second quarter worth $35,884,000. The Manufacturers Life Insurance Company lifted its position in shares of Simpson Manufacturing by 336.6% during the second 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 in the last quarter. Nia Impact Advisors LLC acquired a new position in shares of Simpson Manufacturing during the second quarter worth $15,010,000. Finally, Millennium Management LLC lifted its position in shares of Simpson Manufacturing by 57.8% during 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. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Simpson Manufacturing Trading Down 1.2 %

SSD opened at $180.37 on Friday. The stock has a market capitalization of $7.60 billion, a PE ratio of 23.83 and a beta of 1.32. The firm’s fifty day moving average price is $185.76 and its 200 day moving average price is $178.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.53 and a quick ratio of 1.99. Simpson Manufacturing Co., Inc. has a 12-month low of $152.93 and a 12-month high of $218.38.

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

Simpson Manufacturing Dividend Announcement

The firm 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. The ex-dividend date is Thursday, January 2nd. This represents a $1.12 annualized dividend and a yield of 0.62%. Simpson Manufacturing’s payout ratio is 14.80%.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, Director James S. Andrasick sold 500 shares of the business’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 completion of the sale, the director now owns 866 shares in the company, valued at $154,797.50. The trade was a 36.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Olosky sold 6,871 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $187.41, for a total transaction of $1,287,694.11. Following the transaction, the chief executive officer now owns 19,534 shares of the company’s stock, valued at $3,660,866.94. This represents a 26.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,871 shares of company stock worth $1,658,259 over the last 90 days. Insiders own 0.42% of the company’s stock.

About Simpson Manufacturing

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.