US Bancorp DE Sells 6,722 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

US Bancorp DE lowered its position in Simpson Manufacturing Co., Inc. (NYSE:SSDGet Rating) by 40.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,021 shares of the construction company’s stock after selling 6,722 shares during the quarter. US Bancorp DE’s holdings in Simpson Manufacturing were worth $785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC boosted its stake in Simpson Manufacturing by 174.3% in the second quarter. Parallel Advisors LLC now owns 277 shares of the construction company’s stock worth $28,000 after buying an additional 176 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Simpson Manufacturing in the first quarter worth approximately $30,000. Allworth Financial LP boosted its stake in Simpson Manufacturing by 62.5% in the second quarter. Allworth Financial LP now owns 325 shares of the construction company’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Simpson Manufacturing by 45.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 354 shares of the construction company’s stock worth $35,000 after buying an additional 110 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in Simpson Manufacturing in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.

Simpson Manufacturing Stock Performance

Shares of SSD stock opened at $95.83 on Friday. The stock has a fifty day moving average of $93.00 and a 200 day moving average of $92.42. Simpson Manufacturing Co., Inc. has a 52 week low of $75.25 and a 52 week high of $124.48. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 11.96 and a beta of 1.17. The company has a quick ratio of 2.00, a current ratio of 3.56 and a debt-to-equity ratio of 0.49.

Simpson Manufacturing (NYSE:SSDGet Rating) last announced its quarterly earnings results on Monday, October 24th. The construction company reported $2.06 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 company had revenue of $553.66 million during the quarter, compared to analyst estimates of $529.94 million. During the same quarter last year, the firm posted $1.70 earnings per share. The firm’s revenue was up 39.6% on a year-over-year basis. As a group, research analysts expect that Simpson Manufacturing Co., Inc. will post 7.52 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, January 26th. Investors 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%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SSD shares. DA Davidson cut their target price 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. TheStreet lowered Simpson Manufacturing from a “b-” rating to a “c+” rating in a research note on Monday, October 31st. Finally, StockNews.com raised Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Friday, November 18th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Insider Buying and Selling

In other Simpson Manufacturing news, CFO Brian J. Magstadt sold 2,500 shares of the stock in a transaction on Friday, January 13th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief financial officer now owns 17,547 shares in the company, valued at $1,754,700. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

Simpson Manufacturing Company Profile

(Get Rating)

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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