Baker Avenue Asset Management LP Sells 308,303 Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD)

Baker Avenue Asset Management LP reduced its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,091,615 shares of the construction company’s stock after selling 308,303 shares during the quarter. Simpson Manufacturing accounts for about 5.4% of Baker Avenue Asset Management LP’s investment portfolio, making the stock its largest holding. Baker Avenue Asset Management LP owned about 2.60% of Simpson Manufacturing worth $171,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Simpson Manufacturing in the 4th quarter worth approximately $73,758,000. Ameriprise Financial Inc. lifted its stake in Simpson Manufacturing by 90.4% during the fourth quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company’s stock worth $96,405,000 after purchasing an additional 275,989 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Simpson Manufacturing by 5,137.3% in the fourth quarter. Quantinno Capital Management LP now owns 270,349 shares of the construction company’s stock worth $44,832,000 after purchasing an additional 265,187 shares during the period. Champlain Investment Partners LLC increased its stake in Simpson Manufacturing by 300.2% during the fourth quarter. Champlain Investment Partners LLC now owns 336,051 shares of the construction company’s stock valued at $55,727,000 after purchasing an additional 252,085 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Simpson Manufacturing by 41,328.2% during the first quarter. GAMMA Investing LLC now owns 183,941 shares of the construction company’s stock worth $28,893,000 after purchasing an additional 183,497 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised their price target on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday.

Simpson Manufacturing Stock Down 2.1%

Shares of Simpson Manufacturing stock opened at $179.62 on Friday. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 22.91 and a beta of 1.28. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82. The company has a current ratio of 3.37, a quick ratio of 1.54 and a debt-to-equity ratio of 0.18. The business’s 50 day simple moving average is $160.46 and its 200-day simple moving average is $160.07.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.08. The firm had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 EPS. Equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be given a $0.29 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.80%.

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.