Conestoga Capital Advisors LLC Sells 33,011 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Conestoga Capital Advisors cut its stake in Simpson Manufacturing by 3.7%, selling 33,011 shares and now owning 849,350 shares (about 2.05% of the company) valued at roughly $137.15 million, which represents ~2.3% of Conestoga’s portfolio.
• Institutional ownership is high at 93.68%, and other funds have been increasing exposure — notably Massachusetts Financial Services added 156,820 shares (now 158,595), Capital World Investors more than doubled its position, and Goldman Sachs grew its stake by 43.3%.
• Analysts carry a consensus Hold rating with an average target of $214.75, while Simpson recently beat estimates (Q: EPS $2.13 vs $1.84, revenue $588M vs $550M); the stock trades near $190.62 with a $7.85B market cap and a 22.35 PE.

Conestoga Capital Advisors LLC decreased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 849,350 shares of the construction company's stock after selling 33,011 shares during the period. Simpson Manufacturing makes up about 2.3% of Conestoga Capital Advisors LLC's portfolio, making the stock its 17th biggest position. Conestoga Capital Advisors LLC owned about 2.05% of Simpson Manufacturing worth $137,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SSD. Massachusetts Financial Services Co. MA increased its stake in shares of Simpson Manufacturing by 8,834.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 158,595 shares of the construction company's stock valued at $25,608,000 after purchasing an additional 156,820 shares during the last quarter. Capital World Investors grew its position in Simpson Manufacturing by 101.7% during the 3rd quarter. Capital World Investors now owns 172,813 shares of the construction company's stock worth $28,939,000 after acquiring an additional 87,135 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Simpson Manufacturing during the 2nd quarter worth $11,648,000. Cooke & Bieler LP bought a new stake in Simpson Manufacturing during the 3rd quarter worth $12,211,000. Finally, Goldman Sachs Group Inc. grew its position in Simpson Manufacturing by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock worth $33,327,000 after acquiring an additional 64,114 shares during the last quarter. Institutional investors own 93.68% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SSD. Stephens boosted their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Weiss Ratings lowered Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 2nd. Robert W. Baird boosted their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday. Stifel Nicolaus boosted their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Wall Street Zen lowered Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $214.75.

Simpson Manufacturing Stock Up 1.0%

Shares of SSD opened at $190.62 on Friday. The company has a market capitalization of $7.85 billion, a PE ratio of 22.35 and a beta of 1.37. Simpson Manufacturing Company, Inc. has a 12 month low of $151.38 and a 12 month high of $211.98. The stock's 50-day moving average price is $180.16 and its two-hundred day moving average price is $177.21. The company has a current ratio of 3.40, a quick ratio of 1.99 and a debt-to-equity ratio of 0.17.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.84 by $0.29. The firm had revenue of $587.96 million for the quarter, compared to the consensus estimate of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS. On average, analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.07 EPS for the current year.

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.

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