Envestnet Asset Management Inc. Sells 17,402 Shares of Simpson Manufacturing Company, Inc. $SSD

Envestnet Asset Management Inc. reduced its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,237 shares of the construction company’s stock after selling 17,402 shares during the quarter. Envestnet Asset Management Inc. owned 0.36% of Simpson Manufacturing worth $25,326,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SSD. Norges Bank bought a new position in shares of Simpson Manufacturing in the second quarter worth approximately $77,528,000. Rivulet Capital LLC bought a new position in shares of Simpson Manufacturing in the 2nd quarter worth $40,932,000. First Trust Advisors LP raised its position in shares of Simpson Manufacturing by 33.6% during the 2nd quarter. First Trust Advisors LP now owns 514,406 shares of the construction company’s stock valued at $79,893,000 after buying an additional 129,354 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Simpson Manufacturing by 24.2% during the 2nd quarter. Champlain Investment Partners LLC now owns 501,850 shares of the construction company’s stock worth $77,942,000 after acquiring an additional 97,856 shares during the last quarter. Finally, Argent Capital Management LLC purchased a new position in Simpson Manufacturing in the third quarter worth $15,976,000. Institutional investors own 93.68% of the company’s stock.

Insiders Place Their Bets

In other Simpson Manufacturing news, Director Philip E. Donaldson sold 2,375 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $168.16, for a total transaction of $399,380.00. Following the transaction, the director directly owned 6,086 shares of the company’s stock, valued at approximately $1,023,421.76. The trade was a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

Simpson Manufacturing Stock Performance

Shares of SSD stock opened at $208.84 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.88 and a current ratio of 3.54. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $211.98. The company has a market capitalization of $8.66 billion, a P/E ratio of 25.31 and a beta of 1.37. The stock has a 50 day moving average price of $177.18 and a two-hundred day moving average price of $177.46.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The company had revenue of $539.35 million during the quarter, compared to analyst estimates of $530.70 million. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 EPS. Analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be issued a $0.29 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.06%.

Analysts Set New Price Targets

A number of research firms have weighed in on SSD. Weiss Ratings restated a “hold (c+)” rating on shares of Simpson Manufacturing in a research report on Wednesday, January 21st. DA Davidson upped their target price on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday. Robert W. Baird set a $222.00 price target on shares of Simpson Manufacturing in a research report on Tuesday. Finally, Stephens set a $200.00 price target on shares of Simpson Manufacturing in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Simpson Manufacturing has a consensus rating of “Hold” and an average target price of $207.33.

Simpson Manufacturing Company Profile

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.