Allspring Global Investments Holdings LLC Boosts Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Allspring Global Investments increased its holdings in Simpson Manufacturing by 13.4%, totaling 348,523 shares worth approximately $55.8 million.
• Research firms have upgraded their target price for Simpson Manufacturing from $185 to $190, but the stock maintains a consensus rating of "Hold".
• The company announced a quarterly dividend of $0.29 per share, with an ex-dividend date of October 2nd, representing a 0.7% dividend yield.

Allspring Global Investments Holdings LLC grew its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 348,523 shares of the construction company's stock after acquiring an additional 41,310 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.83% of Simpson Manufacturing worth $55,819,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SSD. Nuveen LLC bought a new stake in Simpson Manufacturing in the 1st quarter worth approximately $15,567,000. Champlain Investment Partners LLC lifted its position in Simpson Manufacturing by 20.2% in the 1st quarter. Champlain Investment Partners LLC now owns 403,994 shares of the construction company's stock worth $63,459,000 after buying an additional 67,943 shares during the last quarter. Raymond James Financial Inc. lifted its position in Simpson Manufacturing by 20.3% in the 1st quarter. Raymond James Financial Inc. now owns 396,291 shares of the construction company's stock worth $62,249,000 after buying an additional 66,774 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Simpson Manufacturing by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock worth $33,327,000 after buying an additional 64,114 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Simpson Manufacturing in the 1st quarter worth approximately $8,384,000. Institutional investors own 93.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SSD. DA Davidson boosted their target price on Simpson Manufacturing from $185.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $191.00.

Insider Activity at Simpson Manufacturing

In other news, EVP Michael Andersen sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total transaction of $196,130.00. Following the transaction, the executive vice president directly owned 7,810 shares of the company's stock, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 7,794 shares in the company, valued at $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. 0.39% of the stock is currently owned by insiders.

Simpson Manufacturing Stock Performance

Shares of SSD stock opened at $169.28 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The company has a market capitalization of $7.05 billion, a P/E ratio of 21.59 and a beta of 1.28. The stock has a 50 day moving average price of $183.07 and a two-hundred day moving average price of $166.67.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $631.06 million for the quarter, compared to analysts' expectations of $601.80 million. During the same period in the previous year, the firm earned $2.31 earnings per share. The business's revenue was up 5.7% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. Simpson Manufacturing's payout ratio is 14.80%.

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.

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