Intech Investment Management LLC Trims Stake in Simpson Manufacturing Company, Inc. $SSD
by Danessa Lincoln · The Markets DailyIntech Investment Management LLC decreased its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD – Free Report) by 25.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,221 shares of the construction company’s stock after selling 3,094 shares during the period. Intech Investment Management LLC’s holdings in Simpson Manufacturing were worth $1,544,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after acquiring an additional 92 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Simpson Manufacturing by 322.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after purchasing an additional 129 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Simpson Manufacturing by 98.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company’s stock worth $49,000 after purchasing an additional 144 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Simpson Manufacturing during the third quarter worth about $56,000. Finally, Sprucegrove Investment Management Ltd. acquired a new position in shares of Simpson Manufacturing in the second quarter valued at approximately $62,000. 93.68% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Simpson Manufacturing
In other news, Director Philip E. Donaldson sold 2,375 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $168.16, for a total value of $399,380.00. Following the completion of the sale, the director owned 6,086 shares of the company’s stock, valued at $1,023,421.76. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Robert W. Baird set a $222.00 target price on shares of Simpson Manufacturing in a research report on Tuesday, February 10th. Wall Street Zen upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. DA Davidson lifted their price objective on Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Stephens set a $200.00 target price on Simpson Manufacturing in a research report on Tuesday, February 10th. Finally, Weiss Ratings lowered Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $207.33.
Get Our Latest Research Report on Simpson Manufacturing
Simpson Manufacturing Price Performance
Shares of Simpson Manufacturing stock opened at $188.34 on Friday. The business’s fifty day moving average price is $186.14 and its 200 day moving average price is $179.00. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $211.98. The company has a current ratio of 3.54, a quick ratio of 1.99 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $7.80 billion, a P/E ratio of 22.83 and a beta of 1.35.
Simpson Manufacturing (NYSE:SSD – Get Free Report) last released its quarterly earnings data on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The company had revenue of $539.35 million for the quarter, compared to the consensus estimate of $530.70 million. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.During the same period last year, the business posted $1.31 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.
Simpson Manufacturing Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, April 2nd. Simpson Manufacturing’s payout ratio is 14.06%.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.
Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.
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