Federated Hermes Inc. Cuts Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Federated Hermes Inc. cut its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 16.9% during the fourth quarter, HoldingsChannel reports. The fund owned 312,191 shares of the construction company’s stock after selling 63,434 shares during the quarter. Federated Hermes Inc.’s holdings in Simpson Manufacturing were worth $61,808,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SSD. Peterson Wealth Services purchased a new position in Simpson Manufacturing during the 4th quarter worth $248,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Simpson Manufacturing by 5.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,662 shares of the construction company’s stock worth $1,913,000 after buying an additional 527 shares during the last quarter. Outlook Wealth Advisors LLC purchased a new position in Simpson Manufacturing during the 4th quarter worth $290,000. Louisiana State Employees Retirement System purchased a new position in Simpson Manufacturing during the 4th quarter worth $2,376,000. Finally, Byrne Asset Management LLC purchased a new position in Simpson Manufacturing during the 4th quarter worth $121,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th.

Simpson Manufacturing Stock Up 1.3 %

Simpson Manufacturing stock opened at $184.37 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.11 and a current ratio of 3.63. The business’s 50-day simple moving average is $197.56 and its two-hundred day simple moving average is $178.01. The company has a market cap of $7.83 billion, a PE ratio of 22.32 and a beta of 1.30. Simpson Manufacturing Co., Inc. has a fifty-two week low of $111.29 and a fifty-two week high of $218.38.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, February 5th. The construction company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.25). The firm had revenue of $501.70 million for the quarter, compared to analysts’ expectations of $482.98 million. Simpson Manufacturing had a net margin of 15.99% and a return on equity of 22.06%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 EPS. Equities analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.74 EPS for the current year.

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $184.16, for a total value of $156,536.00. Following the completion of the transaction, the executive vice president now owns 27,330 shares of the company’s stock, valued at approximately $5,033,092.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Roger Dankel sold 850 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $184.16, for a total value of $156,536.00. Following the completion of the transaction, the executive vice president now owns 27,330 shares of the company’s stock, valued at approximately $5,033,092.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the transaction, the director now directly owns 14,638 shares of the company’s stock, valued at approximately $2,817,522.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,634 shares of company stock worth $927,460. 0.42% of the stock is currently owned by insiders.

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.