Allspring Global Investments Holdings LLC Boosts Holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 307,213 shares of the construction company's stock after acquiring an additional 19,791 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.73% of Simpson Manufacturing worth $48,196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York Life Investment Management LLC purchased a new position in Simpson Manufacturing during the fourth quarter worth about $738,000. Wealth Enhancement Advisory Services LLC boosted its stake in Simpson Manufacturing by 708.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,590 shares of the construction company's stock valued at $2,135,000 after acquiring an additional 11,908 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Simpson Manufacturing by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company's stock valued at $776,000 after acquiring an additional 135 shares during the last quarter. Blue Trust Inc. boosted its stake in Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after acquiring an additional 321 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Simpson Manufacturing by 3.6% in the fourth quarter. Bank of New York Mellon Corp now owns 348,277 shares of the construction company's stock valued at $57,755,000 after acquiring an additional 12,187 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their target price on shares of Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th.

Simpson Manufacturing Stock Performance

SSD traded up $4.66 during midday trading on Tuesday, reaching $159.97. The company had a trading volume of 484,132 shares, compared to its average volume of 249,700. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.54 and a current ratio of 3.17. The stock has a market cap of $6.69 billion, a PE ratio of 20.83 and a beta of 1.28. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $197.82. The business has a 50-day moving average price of $156.65 and a two-hundred day moving average price of $160.21.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly 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. The company had revenue of $538.90 million for the quarter, compared to analysts' expectations of $531.81 million. Simpson Manufacturing had a net margin of 14.49% and a return on equity of 17.80%. Simpson Manufacturing's revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.77 EPS. On average, sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.29 per share. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Thursday, July 3rd. Simpson Manufacturing's dividend payout ratio is presently 14.58%.

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.