Eagle Asset Management Inc. Cuts Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Eagle Asset Management Inc. cut its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,980 shares of the construction company’s stock after selling 1,117 shares during the quarter. Eagle Asset Management Inc. owned 0.17% of Simpson Manufacturing worth $13,244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. acquired a new stake in shares of Simpson Manufacturing in the 2nd quarter worth $35,884,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Simpson Manufacturing by 336.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 224,517 shares of the construction company’s stock valued at $37,838,000 after buying an additional 173,097 shares during the period. Nia Impact Advisors LLC acquired a new position in Simpson Manufacturing during the second quarter worth $15,010,000. Millennium Management LLC raised its position in Simpson Manufacturing by 57.8% in the second quarter. Millennium Management LLC now owns 201,685 shares of the construction company’s stock worth $33,990,000 after acquiring an additional 73,872 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Simpson Manufacturing during the third quarter worth about $13,395,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Price Performance

Shares of NYSE SSD opened at $184.77 on Friday. The company has a current ratio of 3.53, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 24.41 and a beta of 1.32. The company’s 50-day moving average price is $186.37 and its 200 day moving average price is $178.35. Simpson Manufacturing Co., Inc. has a 52 week low of $157.42 and a 52 week high of $218.38.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.19). Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The company had revenue of $587.15 million for the quarter, compared to analyst estimates of $589.00 million. During the same quarter in the prior year, the firm earned $2.43 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts forecast that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.80%.

Analysts Set New Price Targets

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

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, Director James S. Andrasick sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $178.75, for a total value of $89,375.00. Following the sale, the director now directly owns 866 shares of the company’s stock, valued at approximately $154,797.50. This trade represents a 36.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Olosky sold 6,871 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $187.41, for a total transaction of $1,287,694.11. Following the transaction, the chief executive officer now owns 19,534 shares in the company, valued at approximately $3,660,866.94. The trade was a 26.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,871 shares of company stock valued at $1,658,259. Company insiders own 0.42% of the company’s stock.

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.