Baker Avenue Asset Management LP Cuts Stock Position in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Baker Avenue Asset Management LP lessened its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 22.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,091,615 shares of the construction company's stock after selling 308,303 shares during the quarter. Simpson Manufacturing comprises approximately 5.4% of Baker Avenue Asset Management LP's portfolio, making the stock its biggest holding. Baker Avenue Asset Management LP owned 2.60% of Simpson Manufacturing worth $171,471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC boosted its position in shares of Simpson Manufacturing by 2.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,809 shares of the construction company's stock valued at $447,000 after acquiring an additional 70 shares during the period. Kestra Private Wealth Services LLC raised its stake in Simpson Manufacturing by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 2,965 shares of the construction company's stock valued at $466,000 after purchasing an additional 71 shares in the last quarter. Apollon Wealth Management LLC raised its stake in Simpson Manufacturing by 1.4% in the first quarter. Apollon Wealth Management LLC now owns 5,404 shares of the construction company's stock valued at $849,000 after purchasing an additional 74 shares in the last quarter. Xponance Inc. raised its stake in Simpson Manufacturing by 1.5% in the first quarter. Xponance Inc. now owns 5,262 shares of the construction company's stock valued at $827,000 after purchasing an additional 78 shares in the last quarter. Finally, CWM LLC raised its stake in Simpson Manufacturing by 39.1% in the first quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Price Performance

Shares of SSD stock traded up $0.04 during trading hours on Monday, hitting $179.21. 22,392 shares of the company's stock were exchanged, compared to its average volume of 277,716. The company has a market capitalization of $7.50 billion, a PE ratio of 22.81 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $197.82. The business's 50 day simple moving average is $160.95 and its 200-day simple moving average is $160.08. 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 the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The firm had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. During the same period last year, the firm posted $2.31 earnings per share. The business's revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

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

Wall Street Analyst Weigh In

Separately, DA Davidson raised their target price on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th.

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.