Raymond James Financial Inc. Takes $54.64 Million Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Raymond James Financial Inc. bought a new stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 329,517 shares of the construction company’s stock, valued at approximately $54,644,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SSD. Riverbridge Partners LLC acquired a new stake in shares of Simpson Manufacturing in the fourth quarter valued at $58,414,000. FMR LLC increased its stake in shares of Simpson Manufacturing by 24.2% in the third quarter. FMR LLC now owns 1,710,358 shares of the construction company’s stock valued at $327,140,000 after buying an additional 333,390 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of Simpson Manufacturing by 1,020.1% in the third quarter. EP Wealth Advisors LLC now owns 139,828 shares of the construction company’s stock valued at $26,745,000 after buying an additional 127,345 shares in the last quarter. Fisher Asset Management LLC increased its position in Simpson Manufacturing by 67.2% in the third quarter. Fisher Asset Management LLC now owns 219,462 shares of the construction company’s stock worth $41,976,000 after purchasing an additional 88,235 shares during the period. Finally, Champlain Investment Partners LLC acquired a new stake in Simpson Manufacturing in the third quarter worth about $16,060,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the transaction, the executive vice president now owns 8,810 shares in the company, valued at approximately $1,497,523.80. This trade represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

Simpson Manufacturing Price Performance

Shares of SSD stock opened at $163.67 on Tuesday. The stock has a 50-day moving average price of $166.33 and a 200 day moving average price of $177.14. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 21.54 and a beta of 1.39. Simpson Manufacturing Co., Inc. has a 12 month low of $154.97 and a 12 month high of $210.08.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. Research analysts expect that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.74%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price objective on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th.

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.