Ceredex Value Advisors LLC decreased its holdings in shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) by 23.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 305,392 shares of the construction company’s stock after selling 91,730 shares during the quarter. Ceredex Value Advisors LLC owned 0.66% of Simpson Manufacturing worth $22,129,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of SSD. Principal Financial Group Inc. increased its position in Simpson Manufacturing by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 349,731 shares of the construction company’s stock valued at $20,141,000 after acquiring an additional 5,575 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in Simpson Manufacturing by 31.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,337 shares of the construction company’s stock valued at $394,000 after acquiring an additional 1,500 shares in the last quarter. Capital One National Association acquired a new stake in Simpson Manufacturing in the 2nd quarter valued at about $288,000. Amalgamated Bank increased its position in Simpson Manufacturing by 15.3% in the 2nd quarter. Amalgamated Bank now owns 6,776 shares of the construction company’s stock valued at $421,000 after acquiring an additional 900 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in Simpson Manufacturing by 7.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,411,167 shares of the construction company’s stock valued at $87,760,000 after acquiring an additional 92,772 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on SSD. Zacks Investment Research upgraded shares of Simpson Manufacturing from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. ValuEngine cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Sidoti lifted their price target on shares of Simpson Manufacturing from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Robert W. Baird lowered shares of Simpson Manufacturing from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $72.00 in a research note on Monday, October 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.00.
SSD traded up $0.98 during trading on Thursday, reaching $57.34. The company had a trading volume of 337,800 shares, compared to its average volume of 268,978. The firm has a market cap of $2.59 billion, a P/E ratio of 28.79, a PEG ratio of 3.67 and a beta of 1.74. Simpson Manufacturing Co, Inc. has a 12 month low of $53.15 and a 12 month high of $78.36.
Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, October 29th. The construction company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. The business had revenue of $284.18 million for the quarter, compared to analyst estimates of $296.80 million. Simpson Manufacturing had a net margin of 11.88% and a return on equity of 14.43%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, research analysts forecast that Simpson Manufacturing Co, Inc. will post 3.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Thursday, January 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, January 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. Simpson Manufacturing’s payout ratio is 44.44%.
Simpson Manufacturing Profile
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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