Brown Advisory Inc. Reduces Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Posted by Defense World Staff on Feb 25th, 2023

Brown Advisory Inc. trimmed its holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Rating) by 98.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,863 shares of the construction company’s stock after selling 252,213 shares during the quarter. Brown Advisory Inc.’s holdings in Simpson Manufacturing were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SSD. Parallel Advisors LLC lifted its position in shares of Simpson Manufacturing by 174.3% during the second quarter. Parallel Advisors LLC now owns 277 shares of the construction company’s stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Quantbot Technologies LP bought a new stake in Simpson Manufacturing during the 1st quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. boosted its position in Simpson Manufacturing by 45.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 354 shares of the construction company’s stock valued at $35,000 after buying an additional 110 shares during the period. Nisa Investment Advisors LLC bought a new position in Simpson Manufacturing in the 2nd quarter worth about $36,000. Finally, Wipfli Financial Advisors LLC purchased a new position in Simpson Manufacturing during the 3rd quarter worth $37,000. 91.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SSD has been the topic of several research reports. DA Davidson lifted their price objective on shares of Simpson Manufacturing from $90.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th. TheStreet lowered Simpson Manufacturing from a “b-” rating to a “c+” rating in a research report on Monday, October 31st. StockNews.com upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Friday, November 18th. Finally, Robert W. Baird boosted their price objective on shares of Simpson Manufacturing from $114.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 7th.

Insiders Place Their Bets

In related news, CFO Brian J. Magstadt sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief financial officer now directly owns 17,547 shares in the company, valued at $1,754,700. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Brian J. Magstadt sold 2,500 shares of the business’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the chief financial officer now directly owns 17,547 shares in the company, valued at approximately $1,754,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Roger Dankel sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $112.57, for a total transaction of $168,855.00. Following the sale, the executive vice president now directly owns 36,659 shares in the company, valued at $4,126,703.63. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Simpson Manufacturing Trading Down 0.7 %

Shares of NYSE:SSD opened at $106.84 on Friday. The company has a market capitalization of $4.55 billion, a PE ratio of 13.79 and a beta of 1.23. The company has a current ratio of 3.38, a quick ratio of 1.78 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $100.90 and a two-hundred day moving average of $93.13. Simpson Manufacturing Co., Inc. has a 12-month low of $75.25 and a 12-month high of $121.36.

Simpson Manufacturing (NYSE:SSD – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The construction company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.24. The firm had revenue of $475.62 million for the quarter, compared to the consensus estimate of $475.73 million. Simpson Manufacturing had a net margin of 15.78% and a return on equity of 25.33%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $1.61 earnings per share. As a group, analysts forecast that Simpson Manufacturing Co., Inc. will post 6.46 EPS for the current year.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 27th. Shareholders of record on Thursday, April 6th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Wednesday, April 5th. Simpson Manufacturing’s payout ratio is currently 13.42%.

Simpson Manufacturing Profile

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Simpson Manufacturing Co, Inc engages in the manufacture and marketing of building and construction solutions. It offers wood construction products, which include connectors, truss plates, fastening systems, and lateral systems primarily used to strengthen, support, and connect wood applications in residential and commercial construction, as well as do-it-yourself (DIY) projects, concrete construction products such as anchor, repair, and protection, and strengthening products for concrete, brick, and masonry applications in industrial, infrastructure, residential commercial, and DIY projects.