Fifth Third Bancorp Sells 167 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Fifth Third Bancorp lessened its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSDGet Rating) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 491 shares of the construction company’s stock after selling 167 shares during the quarter. Fifth Third Bancorp’s holdings in Simpson Manufacturing were worth $38,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Raymond James & Associates raised its stake in shares of Simpson Manufacturing by 393.5% during the 3rd quarter. Raymond James & Associates now owns 181,927 shares of the construction company’s stock worth $14,263,000 after acquiring an additional 145,062 shares in the last quarter. Xponance Inc. grew its position in Simpson Manufacturing by 2.2% during the 3rd quarter. Xponance Inc. now owns 6,924 shares of the construction company’s stock worth $543,000 after purchasing an additional 149 shares during the last quarter. Granite Investment Partners LLC grew its position in Simpson Manufacturing by 0.9% during the 3rd quarter. Granite Investment Partners LLC now owns 23,111 shares of the construction company’s stock worth $1,812,000 after purchasing an additional 208 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Simpson Manufacturing by 7.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 41,441 shares of the construction company’s stock worth $3,249,000 after purchasing an additional 2,806 shares during the last quarter. Finally, Whittier Trust Co. grew its position in Simpson Manufacturing by 3.8% during the 3rd quarter. Whittier Trust Co. now owns 92,675 shares of the construction company’s stock worth $7,266,000 after purchasing an additional 3,358 shares during the last quarter. Institutional investors own 91.47% of the company’s stock.

Simpson Manufacturing Price Performance

Shares of SSD opened at $99.55 on Friday. The business’s 50-day moving average is $92.17 and its two-hundred day moving average is $92.49. The company has a market capitalization of $4.24 billion, a P/E ratio of 12.43 and a beta of 1.17. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.00 and a current ratio of 3.56. Simpson Manufacturing Co., Inc. has a fifty-two week low of $75.25 and a fifty-two week high of $130.50.

Simpson Manufacturing (NYSE:SSDGet Rating) last announced its quarterly earnings results on Monday, October 24th. The construction company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.40. The company had revenue of $553.66 million for the quarter, compared to the consensus estimate of $529.94 million. Simpson Manufacturing had a return on equity of 27.49% and a net margin of 16.81%. The firm’s revenue for the quarter was up 39.6% compared to the same quarter last year. During the same period last year, the firm earned $1.70 EPS. Research analysts predict that Simpson Manufacturing Co., Inc. will post 7.52 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 26th. Shareholders of record on Thursday, January 5th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, January 4th. Simpson Manufacturing’s dividend payout ratio is currently 12.98%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. DA Davidson dropped their target price on shares of Simpson Manufacturing from $123.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 25th. StockNews.com raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a research report on Friday, November 18th. Finally, TheStreet downgraded shares of Simpson Manufacturing from a “b-” rating to a “c+” rating in a research report on Monday, October 31st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Simpson Manufacturing Company Profile

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Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. 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.

See Also

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Institutional Ownership by Quarter for Simpson Manufacturing (NYSE:SSD)

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