Synovus Financial Corp Takes Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Synovus Financial Corp purchased a new stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,525 shares of the construction company’s stock, valued at approximately $585,000.

A number of other hedge funds have also added to or reduced their stakes in SSD. New York Life Investment Management LLC bought a new position in shares of Simpson Manufacturing in the fourth quarter valued at approximately $738,000. Diversified Trust Co bought a new position in Simpson Manufacturing during the 4th quarter valued at $591,000. Van ECK Associates Corp boosted its holdings in Simpson Manufacturing by 29.3% during the 4th quarter. Van ECK Associates Corp now owns 36,052 shares of the construction company’s stock worth $5,979,000 after acquiring an additional 8,170 shares during the last quarter. Financial Advocates Investment Management bought a new stake in shares of Simpson Manufacturing in the 4th quarter worth $401,000. Finally, KBC Group NV grew its stake in shares of Simpson Manufacturing by 54.7% in the 4th quarter. KBC Group NV now owns 1,866 shares of the construction company’s stock worth $309,000 after acquiring an additional 660 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SSD. Robert W. Baird cut their price target on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. DA Davidson reduced their target price on Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th.

Insider Transactions at Simpson Manufacturing

In related news, EVP Michael Andersen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total transaction of $169,980.00. Following the sale, the executive vice president now directly owns 8,810 shares in the company, valued at approximately $1,497,523.80. This represents a 10.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Simpson Manufacturing Price Performance

SSD opened at $147.28 on Friday. The firm has a market cap of $6.18 billion, a P/E ratio of 19.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 3.21. Simpson Manufacturing Co., Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The firm has a 50-day moving average of $158.81 and a 200 day moving average of $171.18.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.04. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. On average, research analysts expect that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.76%. Simpson Manufacturing’s payout ratio is presently 14.74%.

Simpson Manufacturing 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.