Oppenheimer Asset Management Inc. Has $1.40 Million Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Oppenheimer Asset Management Inc. increased its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 26.5% during the third quarter, Holdings Channel reports. The fund owned 7,300 shares of the construction company’s stock after acquiring an additional 1,531 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Simpson Manufacturing were worth $1,396,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Simpson Manufacturing by 117.0% during the 1st quarter. Russell Investments Group Ltd. now owns 14,901 shares of the construction company’s stock valued at $3,057,000 after purchasing an additional 8,035 shares during the period. State Board of Administration of Florida Retirement System grew its position in Simpson Manufacturing by 24.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,301 shares of the construction company’s stock valued at $3,139,000 after purchasing an additional 3,040 shares in the last quarter. Vanguard Group Inc. increased its stake in Simpson Manufacturing by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 4,487,095 shares of the construction company’s stock valued at $920,662,000 after buying an additional 278,283 shares during the period. Edgestream Partners L.P. purchased a new stake in Simpson Manufacturing in the 1st quarter worth approximately $794,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Simpson Manufacturing by 8.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,364 shares of the construction company’s stock valued at $895,000 after buying an additional 355 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Insider Activity at Simpson Manufacturing

In related news, CEO Michael Olosky sold 6,871 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $187.41, for a total value of $1,287,694.11. Following the completion of the sale, the chief executive officer now owns 19,534 shares in the company, valued at approximately $3,660,866.94. This trade represents a 26.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Andersen sold 1,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $187.46, for a total value of $281,190.00. Following the transaction, the executive vice president now owns 8,438 shares in the company, valued at $1,581,787.48. This represents a 15.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,871 shares of company stock worth $1,658,259 in the last 90 days. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Simpson Manufacturing Stock Down 1.2 %

Shares of Simpson Manufacturing stock opened at $180.37 on Monday. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 23.83 and a beta of 1.32. The stock has a 50-day simple moving average of $185.76 and a 200-day simple moving average of $178.33. Simpson Manufacturing Co., Inc. has a 52-week low of $152.93 and a 52-week high of $218.38. 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 (NYSE:SSD) last posted its earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The firm had revenue of $587.15 million during the quarter, compared to analyst estimates of $589.00 million. Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. During the same quarter in the previous year, the business posted $2.43 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 2nd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend 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%.

Simpson Manufacturing Company 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.