The stock of Simpson Manufacturing Co, Inc. (NYSE:SSD) hit a new 52-week high and has $76.54 target or 63.00% above today’s $46.96 share price. The 6 months bullish chart indicates low risk for the $2.33 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $76.54 price target is reached, the company will be worth $1.47B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 139,840 shares traded hands. Simpson Manufacturing Co, Inc. (NYSE:SSD) has risen 24.13% since April 19, 2016 and is uptrending. It has outperformed by 20.27% the S&P500.
According to Zacks Investment Research, “SIMPSON MANUFACTURING designs,engineers and manufactures wood-to-wood, wood-to-concrete and wood-to-masonry connectors.”
Insitutional Activity: The institutional sentiment increased to 1 in 2016 Q2. Its up 0.16, from 0.84 in 2016Q1. The ratio is positive, as 13 funds sold all Simpson Manufacturing Co, Inc. shares owned while 63 reduced positions. 19 funds bought stakes while 45 increased positions. They now own 38.72 million shares or 4.40% more from 37.09 million shares in 2016Q1.
Blackrock Limited Com owns 25,165 shares or 0% of their US portfolio. Conestoga Cap Advisors Ltd Llc reported 900,420 shares or 2.66% of all its holdings. Granite Invest Ptnrs Ltd reported 30,243 shares or 0.1% of all its holdings. Kbc Gp Nv last reported 0.01% of its portfolio in the stock. M&T Bancorp last reported 16,727 shares in the company. Morgan Stanley has invested 0% of its portfolio in Simpson Manufacturing Co, Inc. (NYSE:SSD). Moreover, Sector Pension Board has 0.01% invested in Simpson Manufacturing Co, Inc. (NYSE:SSD) for 28,809 shares. State Farm Mutual Automobile Insur, a Illinois-based fund reported 181,873 shares. Moreover, Profund Ltd Liability Com has 0.02% invested in Simpson Manufacturing Co, Inc. (NYSE:SSD) for 8,461 shares. Moreover, Hancock Holding has 0.04% invested in Simpson Manufacturing Co, Inc. (NYSE:SSD) for 23,000 shares. Century Management Ltd Co accumulated 0.78% or 177,207 shares. Glenmede Tru Company Na has 1,175 shares for 0% of their US portfolio. The Massachusetts-based Rhumbline Advisers has invested 0.01% in Simpson Manufacturing Co, Inc. (NYSE:SSD). The Minnesota-based Ameriprise has invested 0.02% in Simpson Manufacturing Co, Inc. (NYSE:SSD). Thrivent Financial For Lutherans has 19,850 shares for 0% of their US portfolio.
Insider Transactions: Since September 14, 2016, the stock had 0 insider buys, and 2 insider sales for $228,161 net activity. 1,669 Simpson Manufacturing Co, Inc. (NYSE:SSD) shares with value of $75,573 were sold by Mackenzie Jeffrey Eric. On Wednesday, September 14 Arevalo Ricardo M sold $152,588 worth of the stock or 3,437 shares.
More important recent Simpson Manufacturing Co, Inc. (NYSE:SSD) news were published by: Prnewswire.com which released: “Simpson Manufacturing Co., Inc. Announces Capital Allocation Strategy Update” on August 24, 2016, also Marketwatch.com published article titled: “Virtual Stock Exchange”, Nasdaq.com published: “The Zacks Analyst Blog Highlights: EMCOR Group, MasTec, Simpson Manufacturing …” on November 21, 2016. More interesting news about Simpson Manufacturing Co, Inc. (NYSE:SSD) was released by: Finance.Yahoo.com and their article: “Simpson Manufacturing Co., Inc. Announces Third Quarter Results” with publication date: October 27, 2016.
SSD Company Profile
Simpson Manufacturing Co., Inc., incorporated on February 23, 1999, through its subsidiary, Simpson Strong-Tie Company Inc. (SST), designs, engineers and makes wood construction products, including connectors, truss plates, fastening systems, fasteners and lateral systems used in light-frame construction. The Firm also offers concrete construction products used for concrete, masonry, steel and for concrete repair, protection and strengthening, including adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforced materials. The Firm operates through three divisions: North America, Europe and Asia/Pacific. The Firm makes and markets building and construction products in residential and commercial applications.
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