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Harbor Investment Advisory LLC Cuts Stake in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Defense World · Sep 29, 2022 05:41

Harbor Investment Advisory LLC lowered its position in Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Rating) by 33.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 301 shares of the construction company's stock after selling 153 shares during the quarter. Harbor Investment Advisory LLC's holdings in Simpson Manufacturing were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its stake in Simpson Manufacturing by 115.3% during the 1st quarter. Signaturefd LLC now owns 239 shares of the construction company's stock worth $26,000 after buying an additional 128 shares during the period. Quantbot Technologies LP acquired a new position in shares of Simpson Manufacturing in the first quarter worth about $30,000. Allworth Financial LP lifted its stake in shares of Simpson Manufacturing by 62.5% in the second quarter. Allworth Financial LP now owns 325 shares of the construction company's stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Simpson Manufacturing during the 1st quarter valued at approximately $84,000. Finally, Covestor Ltd increased its holdings in Simpson Manufacturing by 59.5% during the 1st quarter. Covestor Ltd now owns 815 shares of the construction company's stock worth $89,000 after purchasing an additional 304 shares during the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Separately, StockNews.com cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Wednesday, September 21st.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, insider Roger Dankel sold 600 shares of the firm's stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $105.00, for a total transaction of $63,000.00. Following the transaction, the insider now owns 31,212 shares of the company's stock, valued at approximately $3,277,260. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Roger Dankel sold 600 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $105.00, for a total transaction of $63,000.00. Following the completion of the sale, the insider now directly owns 31,212 shares of the company's stock, valued at $3,277,260. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian J. Magstadt sold 2,500 shares of Simpson Manufacturing stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 20,047 shares in the company, valued at approximately $2,004,700. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock worth $568,975 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Simpson Manufacturing Stock Up 2.9 %

NYSE:SSD opened at $79.97 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 3.33. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 10.45 and a beta of 1.17. Simpson Manufacturing Co., Inc. has a one year low of $76.96 and a one year high of $141.26. The stock has a 50-day simple moving average of $95.38 and a 200 day simple moving average of $102.10.

Simpson Manufacturing (NYSE:SSD – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The construction company reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.02). The firm had revenue of $593.23 million during the quarter, compared to the consensus estimate of $579.84 million. Simpson Manufacturing had a net margin of 17.44% and a return on equity of 27.51%. Simpson Manufacturing's revenue was up 44.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. Sell-side analysts predict that Simpson Manufacturing Co., Inc. will post 7.35 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Thursday, October 6th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.04 annualized dividend and a dividend yield of 1.30%. Simpson Manufacturing's payout ratio is 13.59%.

Simpson Manufacturing Company Profile

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Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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.