US Bancorp DE Reduces Stock Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

US Bancorp DE reduced its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSDGet Rating) by 40.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,021 shares of the construction company’s stock after selling 6,722 shares during the period. US Bancorp DE’s holdings in Simpson Manufacturing were worth $785,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Simpson Manufacturing by 174.3% during the 2nd quarter. Parallel Advisors LLC now owns 277 shares of the construction company’s stock valued at $28,000 after buying an additional 176 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Simpson Manufacturing during the 1st quarter valued at about $30,000. Allworth Financial LP lifted its position in shares of Simpson Manufacturing by 62.5% during the 2nd quarter. Allworth Financial LP now owns 325 shares of the construction company’s stock valued at $33,000 after buying an additional 125 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Simpson Manufacturing by 45.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 354 shares of the construction company’s stock valued at $35,000 after buying an additional 110 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Simpson Manufacturing during the 2nd quarter valued at about $36,000. 91.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Simpson Manufacturing Stock Performance

NYSE:SSD opened at $95.83 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.56 and a quick ratio of 2.00. Simpson Manufacturing Co., Inc. has a 1 year low of $75.25 and a 1 year high of $124.48. The stock’s 50 day simple moving average is $93.00 and its two-hundred day simple moving average is $92.42. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 11.96 and a beta of 1.17.

Simpson Manufacturing (NYSE:SSDGet Rating) last released its quarterly earnings data on Monday, October 24th. The construction company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.40. Simpson Manufacturing had a return on equity of 27.49% and a net margin of 16.81%. The business had revenue of $553.66 million for the quarter, compared to the consensus estimate of $529.94 million. During the same quarter in the previous year, the company posted $1.70 EPS. The company’s revenue was up 39.6% compared to the same quarter last year. As a group, equities analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.52 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 26th. Shareholders of record on Thursday, January 5th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, January 4th. Simpson Manufacturing’s payout ratio is 12.98%.

Insiders Place Their Bets

In other news, CFO Brian J. Magstadt sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the chief financial officer now owns 17,547 shares of the company’s stock, valued at approximately $1,754,700. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Simpson Manufacturing Profile

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Simpson Manufacturing Co, Inc engages in the manufacture and marketing of building and construction solutions. It offers wood construction products, which include connectors, truss plates, fastening systems, and lateral systems primarily used to strengthen, support, and connect wood applications in residential and commercial construction, as well as do-it-yourself (DIY) projects, concrete construction products such as anchor, repair, and protection, and strengthening products for concrete, brick, and masonry applications in industrial, infrastructure, residential commercial, and DIY projects.

Further Reading

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

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