Examining the Potential Price Growth of Simpson Manufacturing Co. Inc. (SSD)


Simpson Manufacturing Co. Inc.’s filing revealed that its Director ANDRASICK JAMES S unloaded Company’s shares for reported $0.16 million on Aug 07. In the deal valued at $156.07 per share,1,000 shares were sold. As a result of this transaction, ANDRASICK JAMES S now holds 724 shares worth roughly $ 0.12 million.

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Then, Dankel Roger sold 2,500 shares, generating $387,500 in total proceeds. Upon selling the shares at $155.00, the EVP, NA Sales now owns 32,202 shares.

Before that, Donaldson Philip E sold 675 shares. Simpson Manufacturing Co. Inc. shares valued at $106,610 were divested by the Director at a price of $157.94 per share. As a result of the transaction, Donaldson Philip E now holds 6,549 shares, worth roughly $1.07 million.

Sidoti upgraded its Simpson Manufacturing Co. Inc. [SSD] rating to a Buy from a a Neutral in a research note published on Friday. PT values the company’s stock at a premium of -7.36 to its Friday closing price.

Price Performance Review of SSD

On Friday, Simpson Manufacturing Co. Inc. [NYSE:SSD] saw its stock jump 2.14% to $163.18. On the same session, the stock had its day’s lowest price of $160.38, but rose to a high of $163.74. Over the last five days, the stock has gained 5.93%. Simpson Manufacturing Co. Inc. shares have risen nearly 84.05% since the year began. Nevertheless, the stocks have risen 76.14% over the past one year. While a 52-week high of $166.02 was reached on 07/27/23, a 52-week low of $75.25 was recorded on 01/03/23. SMA at 50 days reached $150.04, while 200 days put it at $118.76. A total of 0.16 million shares were traded, compared to the trading of 0.13 million shares in the previous session.

Levels Of Support And Resistance For SSD Stock

The 24-hour chart illustrates a support level at 161.13, which if violated will result in even more drops to 159.07. On the upside, there is a resistance level at 164.49. A further resistance level may holdings at 165.79. The Relative Strength Index (RSI) on the 14-day chart is 68.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.78, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.86%. Stochastics %K at 90.62% indicates the stock is a selling.

How much short interest is there in Simpson Manufacturing Co. Inc.?

A steep rise in short interest was recorded in Simpson Manufacturing Co. Inc. stocks on Aug 14, 2023, growing by 30680.0 shares to a total of 0.69 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.66 million shares. There was a rise of 4.47%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.08% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.43.

Simpson Manufacturing Co. Inc. [SSD] – Who Are The Largest Shareholders?

In filings from Kayne Anderson Rudnick Investment, it is revealed that the company now owns 4,622,533 shares, or roughly 10.83% of the outstanding SSD shares. In other words, the investor’s shares have risen by 3,460 from its previous 13-F filing of 4619073.0. Additionally, BlackRock Fund Advisors increased 1.82% of its stake after which the total value it holdings stand at $726,204,024, while The Vanguard Group, Inc. reduced -0.18% of its stake to hold $638.04 million in the firm. Over the last quarter, JPMorgan Investment Management, I sold -136,252 shares of Simpson Manufacturing Co. Inc., while SSgA Funds Management, Inc. sold 11,773 shares. At present, Capital Research & Management Co is holding 1,392,738 shares valued at $220.05 million. Conestoga Capital Advisors LLC owned 1,384,448 shares of the company at the time of its most recent 13F filing, worth $218.74 million.

According to FactSet, Simpson Manufacturing Co. Inc.’s share price will average $176.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.36 percent from its previous closing price of $159.76. Analysts expect Simpson Manufacturing Co. Inc. stock to reach the higher price of $190.00, while the lowest price estimate is $155.00. However, 4 analysts have rated SSD stock as an Overweight in their predictions for 2023.


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