Advisors Asset Management Inc. Decreases Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Advisors Asset Management Inc. cut its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSDGet Rating) by 20.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,407 shares of the construction company’s stock after selling 3,682 shares during the quarter. Advisors Asset Management Inc.’s holdings in Simpson Manufacturing were worth $1,449,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Baird Financial Group Inc. grew its stake in shares of Simpson Manufacturing by 142.1% during the 2nd quarter. Baird Financial Group Inc. now owns 12,179 shares of the construction company’s stock worth $1,225,000 after acquiring an additional 7,149 shares during the period. TownSquare Capital LLC bought a new position in shares of Simpson Manufacturing during the 2nd quarter worth $211,000. Texas Permanent School Fund grew its stake in shares of Simpson Manufacturing by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 31,228 shares of the construction company’s stock worth $3,142,000 after acquiring an additional 431 shares during the period. M&T Bank Corp grew its stake in shares of Simpson Manufacturing by 100.0% during the 2nd quarter. M&T Bank Corp now owns 12,606 shares of the construction company’s stock worth $1,268,000 after acquiring an additional 6,303 shares during the period. Finally, Riverwater Partners LLC bought a new position in shares of Simpson Manufacturing during the 2nd quarter worth $206,000. 89.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SSD has been the subject of several research reports. StockNews.com downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. DA Davidson cut their price target on Simpson Manufacturing from $123.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, October 25th. Finally, TheStreet downgraded Simpson Manufacturing from a “b-” rating to a “c+” rating in a research note on Monday, October 31st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Simpson Manufacturing has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Simpson Manufacturing Stock Down 3.3 %

Shares of NYSE SSD opened at $90.44 on Tuesday. Simpson Manufacturing Co., Inc. has a 52 week low of $75.25 and a 52 week high of $141.26. The business has a 50-day simple moving average of $82.94 and a two-hundred day simple moving average of $95.51. The company has a quick ratio of 2.00, a current ratio of 3.56 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.85 billion, a P/E ratio of 11.29 and a beta of 1.18.

Simpson Manufacturing (NYSE:SSDGet Rating) last issued its earnings results on Monday, October 24th. The construction company reported $2.06 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $529.94 million. During the same quarter last year, the company earned $1.70 EPS. The firm’s revenue was up 39.6% compared to the same quarter last year. Research analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.52 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 26th. Stockholders of record on Thursday, January 5th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 12.98%.

Simpson Manufacturing Profile

(Get Rating)

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.

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

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