Fifth Third Bancorp Sells 531 Shares of Simpson Manufacturing Company, Inc. $SSD

Fifth Third Bancorp lessened its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 33.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,061 shares of the construction company’s stock after selling 531 shares during the period. Fifth Third Bancorp’s holdings in Simpson Manufacturing were worth $165,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Simpson Manufacturing in the 1st quarter worth approximately $45,000. CWM LLC lifted its position in shares of Simpson Manufacturing by 39.1% in the 1st quarter. CWM LLC now owns 331 shares of the construction company’s stock worth $52,000 after purchasing an additional 93 shares during the period. Blue Trust Inc. lifted its position in shares of Simpson Manufacturing by 1,070.0% in the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company’s stock worth $55,000 after purchasing an additional 321 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Simpson Manufacturing in the 1st quarter worth approximately $72,000. Finally, UMB Bank n.a. lifted its position in shares of Simpson Manufacturing by 171.5% in the 1st quarter. UMB Bank n.a. now owns 562 shares of the construction company’s stock worth $88,000 after purchasing an additional 355 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson upped their price target on shares of Simpson Manufacturing from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.00.

Simpson Manufacturing Stock Performance

SSD stock opened at $167.30 on Thursday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 21.34 and a beta of 1.28. The firm has a 50-day simple moving average of $184.27 and a two-hundred day simple moving average of $165.95. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $197.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37.

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

Simpson Manufacturing Dividend Announcement

The business 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. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.80%.

Insider Activity at Simpson Manufacturing

In related news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president directly owned 7,810 shares of the company’s stock, valued at $1,531,775.30. This trade represents a 11.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeremy Gilstrap sold 2,500 shares of the 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 completion of the transaction, the executive vice president directly owned 7,794 shares of the company’s stock, valued at $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

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.