Simpson Manufacturing Company, Inc. $SSD Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 6.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,024 shares of the construction company’s stock after selling 20,467 shares during the period. Allspring Global Investments Holdings LLC owned about 0.74% of Simpson Manufacturing worth $52,003,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after buying an additional 92 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Simpson Manufacturing during the fourth quarter worth approximately $28,000. Los Angeles Capital Management LLC acquired a new position in Simpson Manufacturing in the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. acquired a new position in Simpson Manufacturing in the third quarter valued at approximately $34,000. Finally, Smartleaf Asset Management LLC increased its stake in Simpson Manufacturing by 33.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after purchasing an additional 57 shares during the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SSD shares. Stifel Nicolaus upped their target price on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Stephens lifted their price target on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Weiss Ratings cut shares of Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. DA Davidson upped their price objective on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simpson Manufacturing presently has an average rating of “Hold” and an average price target of $214.75.

Simpson Manufacturing Stock Down 2.5%

Shares of NYSE:SSD opened at $188.98 on Friday. The stock has a market cap of $7.77 billion, a P/E ratio of 22.15 and a beta of 1.30. The firm has a fifty day moving average price of $191.90 and a 200 day moving average price of $185.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. The firm had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $1.85 earnings per share. Sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. Simpson Manufacturing’s payout ratio is 14.07%.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.