QRG Capital Management Inc. Lowers Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

QRG Capital Management Inc. lowered its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 26.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,862 shares of the construction company’s stock after selling 1,373 shares during the quarter. QRG Capital Management Inc.’s holdings in Simpson Manufacturing were worth $600,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new position in Simpson Manufacturing during the second quarter worth approximately $31,000. Harbor Capital Advisors Inc. purchased a new position in Simpson Manufacturing during the first quarter worth approximately $45,000. CWM LLC boosted its position in Simpson Manufacturing by 39.1% during the first quarter. CWM LLC now owns 331 shares of the construction company’s stock worth $52,000 after purchasing an additional 93 shares in the last quarter. Steph & Co. acquired a new position in shares of Simpson Manufacturing during the second quarter valued at approximately $53,000. Finally, Blue Trust Inc. raised its holdings in shares of Simpson Manufacturing by 1,070.0% during the first quarter. Blue Trust Inc. now owns 351 shares of the construction company’s stock valued at $55,000 after acquiring an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SSD shares. DA Davidson increased their target price on Simpson Manufacturing from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Simpson Manufacturing in a report on Wednesday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $191.00.

Insiders Place Their Bets

In related news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction on Monday, August 25th. The stock was 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 in the company, valued at approximately $1,531,775.30. This trade represents a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction on Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the transaction, the executive vice president 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 disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Simpson Manufacturing Price Performance

SSD stock opened at $169.30 on Friday. The business has a fifty day moving average of $183.89 and a two-hundred day moving average of $166.46. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 21.59 and a beta of 1.28. 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 released its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The business had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. During the same period last year, the business posted $2.31 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.80%.

About Simpson Manufacturing

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.