Vanguard Group Inc. Has $656.14 Million Holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Vanguard Group Inc. cut its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,177,097 shares of the construction company’s stock after selling 27,774 shares during the period. Vanguard Group Inc. owned approximately 9.95% of Simpson Manufacturing worth $656,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Simpson Manufacturing by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 97,163 shares of the construction company’s stock worth $15,262,000 after buying an additional 380 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Simpson Manufacturing by 163.7% during the 1st quarter. GAMMA Investing LLC now owns 1,171 shares of the construction company’s stock worth $184,000 after buying an additional 727 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Simpson Manufacturing by 708.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,590 shares of the construction company’s stock worth $2,135,000 after buying an additional 11,908 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Simpson Manufacturing by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company’s stock worth $776,000 after buying an additional 135 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company’s stock worth $55,000 after buying an additional 321 shares during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $178.27, for a total transaction of $445,675.00. Following the transaction, the executive vice president directly owned 7,794 shares of the company’s stock, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson increased their price objective on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th.

Simpson Manufacturing Stock Up 3.2%

Shares of SSD stock opened at $194.45 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The firm’s 50-day moving average is $165.40 and its 200-day moving average is $161.07. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 24.80 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82.

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

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing’s dividend payout ratio 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.