Callan Family Office LLC Decreases Stake in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Key Points

• Callan Family Office LLC has reduced its stake in Simpson Manufacturing Company, Inc. by 39.6%, selling 2,857 shares and now holding 4,362 shares valued at approximately $685,000.
• Simpson Manufacturing reported a quarterly EPS of $2.47, surpassing analysts' expectations of $2.39, with revenue of $631.06 million representing a 5.7% increase compared to the previous year's quarter.
• The company declared a quarterly dividend of $0.29 per share, with the payout date set for October 23rd, reflecting an annualized yield of 0.6%.

Callan Family Office LLC lowered its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 39.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,362 shares of the construction company's stock after selling 2,857 shares during the period. Callan Family Office LLC's holdings in Simpson Manufacturing were worth $685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Simpson Manufacturing in the fourth quarter valued at about $28,000. Investment Management Corp VA ADV acquired a new stake in shares of Simpson Manufacturing during the 4th quarter valued at approximately $28,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Simpson Manufacturing during the 1st quarter valued at approximately $45,000. CWM LLC lifted its position in shares of Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after acquiring an additional 93 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 93.68% of the company's stock.

Simpson Manufacturing Trading Down 2.2%

SSD stock traded down $4.25 during midday trading on Friday, hitting $186.94. The stock had a trading volume of 288,280 shares, compared to its average volume of 321,279. The firm has a market cap of $7.78 billion, a PE ratio of 23.84 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $197.82. The company's 50-day moving average price is $166.64 and its 200 day moving average price is $161.33.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. The business had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. On average, equities research analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Investors 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 yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is 14.80%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction on Friday, August 1st. The shares were 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 directly owned 7,794 shares of the company's stock, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company's stock.

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.