Fri Sep 20 07:14:53 UTC 2024: ## Hedge Funds Show Interest in Simpson Manufacturing Co.
**New York, NY (MarketBeat News)** – Several hedge funds have adjusted their holdings in Simpson Manufacturing Co., Inc. (NYSE: SSD) in recent quarters, signaling potential interest in the construction company.
Commonwealth Equity Services LLC increased its stake in SSD by 1.8% during the second quarter, acquiring an additional 72 shares. Other funds, including Jennison Associates LLC, Private Advisor Group LLC, CWM LLC, Tidal Investments LLC, and Inspire Advisors LLC, also saw gains in their SSD holdings during the first quarter. Overall, institutional investors now own a significant 93.68% of Simpson Manufacturing stock.
Meanwhile, insider trading activity has been mixed. Director James S. Andrasick sold 500 shares on August 28th, while CEO Michael Olosky sold 6,871 shares on August 26th. Over the past three months, insiders have sold a total of 12,571 shares, representing 0.42% of the company’s stock.
Simpson Manufacturing’s recent financial performance has been mixed. The company reported earnings per share (EPS) of $2.31 for the second quarter, missing analysts’ expectations of $2.44. Revenue also fell short of estimates, coming in at $596.98 million compared to the expected $604.67 million. Despite the missed earnings, Simpson Manufacturing continues to pay a quarterly dividend of $0.28 per share, equating to an annualized dividend of $1.12 and a yield of 0.57%.
Looking ahead, equities analysts predict that Simpson Manufacturing will post 8.1 EPS for the current fiscal year.
Investors interested in further analysis of Simpson Manufacturing Co., Inc.’s stock performance can visit HoldingsChannel.com for the latest 13F filings and insider trades.
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