Amundi Sells 6,800 Shares of 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 lowered its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,845 shares of the construction company's stock after selling 6,800 shares during the period. Amundi owned about 0.13% of Simpson Manufacturing worth $7,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. lifted its holdings in Simpson Manufacturing by 11.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,760 shares of the construction company's stock worth $458,000 after acquiring an additional 281 shares during the period. Cetera Investment Advisers increased its position in shares of Simpson Manufacturing by 27.2% during the 4th quarter. Cetera Investment Advisers now owns 4,313 shares of the construction company's stock valued at $715,000 after purchasing an additional 923 shares during the last quarter. Numerai GP LLC bought a new stake in shares of Simpson Manufacturing during the 4th quarter worth $1,360,000. NorthRock Partners LLC purchased a new position in shares of Simpson Manufacturing in the 4th quarter worth about $728,000. Finally, Nomura Holdings Inc. bought a new position in Simpson Manufacturing during the fourth quarter valued at about $928,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction 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 trade represents a 24.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Andersen sold 1,000 shares of the firm'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 transaction of $196,130.00. Following the completion of the sale, the executive vice president directly owned 7,810 shares in the company, valued at $1,531,775.30. This represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Separately, DA Davidson lifted their price objective on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $188.50.

Simpson Manufacturing Stock Performance

Shares of SSD stock traded down $1.49 during trading on Tuesday, reaching $186.86. 255,724 shares of the company's stock traded hands, compared to its average volume of 229,690. The firm's 50-day moving average is $181.41 and its 200 day moving average is $164.80. The company has a market capitalization of $7.78 billion, a P/E ratio of 23.83 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly 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 firm had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. During the same period last year, the company earned $2.31 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

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

Simpson Manufacturing Company 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.