Simpson Manufacturing Company, Inc. (NYSE:SSD) Stake Lowered by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP lowered its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,091,615 shares of the construction company's stock after selling 308,303 shares during the quarter. Simpson Manufacturing accounts for about 5.4% of Baker Avenue Asset Management LP's portfolio, making the stock its largest position. Baker Avenue Asset Management LP owned about 2.60% of Simpson Manufacturing worth $171,471,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SSD. Geode Capital Management LLC lifted its position in Simpson Manufacturing by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 710,166 shares of the construction company's stock worth $117,804,000 after buying an additional 2,502 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in Simpson Manufacturing by 1.8% in the fourth quarter. Burgundy Asset Management Ltd. now owns 630,436 shares of the construction company's stock worth $104,545,000 after buying an additional 10,940 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Simpson Manufacturing by 90.4% in the fourth quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company's stock worth $96,405,000 after buying an additional 275,989 shares during the last quarter. Northern Trust Corp lifted its position in Simpson Manufacturing by 21.2% in the fourth quarter. Northern Trust Corp now owns 551,986 shares of the construction company's stock worth $91,536,000 after buying an additional 96,559 shares during the last quarter. Finally, Norges Bank bought a new stake in Simpson Manufacturing in the fourth quarter worth $73,758,000. Institutional investors own 93.68% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson raised their price target on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research report on Tuesday.

Simpson Manufacturing Trading Down 0.3%

Shares of NYSE:SSD traded down $0.50 on Friday, hitting $178.93. 377,085 shares of the company's stock were exchanged, compared to its average volume of 309,271. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 22.82 and a beta of 1.26. The business's 50 day simple moving average is $160.95 and its two-hundred day simple moving average is $160.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.54.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping 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 business had revenue of $631.06 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.29 per share. 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%.

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.