Amundi Decreases Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Amundi has reduced its position in Simpson Manufacturing Company, Inc. by 11.4%, selling 6,800 shares and now holding approximately 52,845 shares valued at around $7.67 million.
• Several other hedge funds have significantly increased their stakes in Simpson Manufacturing, with Quantinno Capital Management LP raising its stake by over 5,100% in the last quarter.
• The company has announced a quarterly dividend of $0.29 per share, set to be paid on October 23rd, representing a 0.6% dividend yield.

Amundi lessened its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 11.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,845 shares of the construction company's stock after selling 6,800 shares during the quarter. Amundi owned about 0.13% of Simpson Manufacturing worth $7,669,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SSD. Quantinno Capital Management LP grew its stake in Simpson Manufacturing by 5,137.3% during the 4th quarter. Quantinno Capital Management LP now owns 270,349 shares of the construction company's stock worth $44,832,000 after buying an additional 265,187 shares during the last quarter. GAMMA Investing LLC grew its stake in Simpson Manufacturing by 41,328.2% during the 1st quarter. GAMMA Investing LLC now owns 183,941 shares of the construction company's stock worth $28,893,000 after buying an additional 183,497 shares during the last quarter. Nuveen LLC purchased a new position in Simpson Manufacturing during the 1st quarter worth approximately $15,567,000. Voloridge Investment Management LLC acquired a new position in shares of Simpson Manufacturing in the fourth quarter valued at approximately $11,940,000. Finally, Champlain Investment Partners LLC increased its holdings in shares of Simpson Manufacturing by 20.2% in the first quarter. Champlain Investment Partners LLC now owns 403,994 shares of the construction company's stock valued at $63,459,000 after purchasing an additional 67,943 shares during the period. Hedge funds and other institutional investors own 93.68% of the company's stock.

Insider Buying and Selling

In other news, EVP Michael Andersen sold 1,000 shares of the 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 sale, the executive vice president directly owned 7,810 shares in the company, valued at approximately $1,531,775.30. This represents a 11.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Gilstrap sold 2,500 shares of the firm'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 completion of the sale, the executive vice president owned 7,794 shares in the company, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

Simpson Manufacturing Trading Up 0.5%

Shares of SSD opened at $191.30 on Thursday. The company has a market capitalization of $7.96 billion, a P/E ratio of 24.40 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year 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 stock has a 50-day moving average price of $179.21 and a 200 day moving average price of $164.20.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $601.80 million. During the same quarter last year, the business posted $2.31 EPS. Simpson Manufacturing's quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is presently 14.80%.

Analyst Ratings Changes

Separately, DA Davidson lifted their price target on Simpson Manufacturing from $180.00 to $185.00 and gave the company 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.50.

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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