Ceredex Value Advisors LLC Reduces Stake in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Ceredex Value Advisors LLC reduced its stake in Simpson Manufacturing by 30.6% in Q3, selling 24,875 shares and leaving it with 56,500 shares valued at about $9.46 million.
• Research firms have largely moved to a "Hold" stance on the stock, with an average analyst target price of $207.33 and recent targets clustered around $200–$222.
• Simpson beat expectations for the quarter (EPS $1.35 vs. $1.26; revenue $539.35M, up 4.2% YoY) and announced a quarterly dividend of $0.29 (annualized $1.16, yield ~0.6%).

Ceredex Value Advisors LLC lowered its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 30.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,500 shares of the construction company's stock after selling 24,875 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.14% of Simpson Manufacturing worth $9,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock worth $25,000 after buying an additional 92 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Simpson Manufacturing by 322.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company's stock worth $28,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. lifted its stake in Simpson Manufacturing by 98.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company's stock worth $49,000 after purchasing an additional 144 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Simpson Manufacturing in the 3rd quarter worth approximately $56,000. Finally, CWM LLC boosted its holdings in Simpson Manufacturing by 84.8% in the 3rd quarter. CWM LLC now owns 632 shares of the construction company's stock valued at $106,000 after purchasing an additional 290 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings lowered shares of Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 2nd. Wall Street Zen lowered Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday. Robert W. Baird set a $222.00 target price on Simpson Manufacturing in a research report on Tuesday, February 10th. DA Davidson upped their target price on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 11th. Finally, Stephens set a $200.00 price target on Simpson Manufacturing in a report on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $207.33.

Insider Buying and Selling at Simpson Manufacturing

In related news, Director Philip E. Donaldson sold 2,375 shares of the business's stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $168.16, for a total value of $399,380.00. Following the completion of the sale, the director owned 6,086 shares in the company, valued at $1,023,421.76. The trade was a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company's stock.

Simpson Manufacturing Stock Performance

NYSE SSD opened at $181.73 on Wednesday. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $211.98. The company has a fifty day moving average of $187.23 and a 200-day moving average of $178.70. The company has a market capitalization of $7.52 billion, a P/E ratio of 22.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.99 and a current ratio of 3.54.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.09. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.The business had revenue of $539.35 million for the quarter, compared to analysts' expectations of $530.70 million. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, April 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing's dividend payout ratio is 14.06%.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.