Bank of America Corp DE Lowers Stake in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Bank of America Corp DE lowered its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,418 shares of the construction company's stock after selling 3,970 shares during the period. Bank of America Corp DE owned 0.50% of Simpson Manufacturing worth $34,728,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SSD. Quarry LP bought a new position in shares of Simpson Manufacturing during the fourth quarter worth approximately $28,000. Park Place Capital Corp acquired a new position in Simpson Manufacturing in the 4th quarter worth about $29,000. R Squared Ltd bought a new stake in Simpson Manufacturing during the 4th quarter worth approximately $30,000. UMB Bank n.a. lifted its holdings in Simpson Manufacturing by 88.2% during the 4th quarter. UMB Bank n.a. now owns 207 shares of the construction company's stock worth $34,000 after buying an additional 97 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in shares of Simpson Manufacturing by 53.4% in the 4th quarter. V Square Quantitative Management LLC now owns 273 shares of the construction company's stock worth $45,000 after purchasing an additional 95 shares during the period. 93.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. DA Davidson cut their price target on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Robert W. Baird dropped their price target on shares of Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th.

Simpson Manufacturing Stock Performance

Shares of Simpson Manufacturing stock traded down $2.90 during trading hours on Wednesday, reaching $158.97. 16,664 shares of the stock traded hands, compared to its average volume of 270,467. The company has a 50 day moving average price of $154.31 and a 200 day moving average price of $166.12. Simpson Manufacturing Co., Inc. has a one year low of $137.35 and a one year high of $197.82. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 20.84 and a beta of 1.34.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its earnings results on Monday, April 28th. The construction company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.14. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. The firm had revenue of $538.90 million during the quarter, compared to the consensus estimate of $531.81 million. During the same period in the prior year, the company earned $1.77 EPS. The company's quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.73%. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.28. Simpson Manufacturing's payout ratio is currently 15.10%.

Insider Transactions at Simpson Manufacturing

In other news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the transaction, the executive vice president now owns 8,810 shares in the company, valued at $1,497,523.80. This trade represents a 10.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.42% of the company's stock.

Simpson Manufacturing 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.