Ameriprise Financial Inc. Has $98.60 Million Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Ameriprise Financial Inc. increased its stake in Simpson Manufacturing Company by 8.0%, acquiring an additional 46,290 shares, bringing total holdings to approximately 627,696 shares valued at $98.6 million.
• Simpson Manufacturing reported a quarterly earnings per share (EPS) of $2.47, exceeding analysts' expectations of $2.39, with revenues totaling $631.06 million, representing a 5.7% year-over-year growth.
• The company plans to distribute a quarterly dividend of $0.29 per share on October 23rd, resulting in an annualized yield of 0.6%.

Ameriprise Financial Inc. grew its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 8.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 627,696 shares of the construction company's stock after acquiring an additional 46,290 shares during the quarter. Ameriprise Financial Inc. owned 1.50% of Simpson Manufacturing worth $98,602,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Kestra Private Wealth Services LLC lifted its position in Simpson Manufacturing by 2.5% during the first quarter. Kestra Private Wealth Services LLC now owns 2,965 shares of the construction company's stock worth $466,000 after purchasing an additional 71 shares during the period. Apollon Wealth Management LLC raised its stake in Simpson Manufacturing by 1.4% during the first quarter. Apollon Wealth Management LLC now owns 5,404 shares of the construction company's stock worth $849,000 after acquiring an additional 74 shares in the last quarter. Xponance Inc. raised its stake in Simpson Manufacturing by 1.5% during the first quarter. Xponance Inc. now owns 5,262 shares of the construction company's stock worth $827,000 after acquiring an additional 78 shares in the last quarter. CWM LLC raised its stake in Simpson Manufacturing by 39.1% during the first quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after acquiring an additional 93 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in Simpson Manufacturing by 1.0% during the first quarter. State of Michigan Retirement System now owns 10,127 shares of the construction company's stock worth $1,591,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson boosted their target price on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Simpson Manufacturing has an average rating of "Moderate Buy" and a consensus price target of $188.50.

Simpson Manufacturing Trading Down 1.1%

Shares of Simpson Manufacturing stock traded down $2.03 on Friday, hitting $190.91. The stock had a trading volume of 224,715 shares, compared to its average volume of 261,357. The stock has a 50 day moving average of $173.96 and a 200 day moving average of $163.04. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The firm has a market capitalization of $7.95 billion, a P/E ratio of 24.35 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data 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 company had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The firm's revenue was up 5.7% compared to the same quarter last year. Sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing's dividend payout ratio is currently 14.80%.

Insider Activity at Simpson Manufacturing

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the transaction, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. This represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael Andersen sold 1,000 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president directly owned 7,810 shares of the company's stock, valued at $1,531,775.30. This represents a 11.35% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

About Simpson Manufacturing

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.