Dimensional Fund Advisors LP Sells 22,743 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Simpson Manufacturing Company by 2.5%, now owning approximately 886,805 shares valued at $139.3 million.
• Analysts have raised Simpson Manufacturing's price target from $180 to $185, maintaining a "neutral" rating, with a consensus price target of $188.50.
• Simpson Manufacturing recently announced a quarterly dividend of $0.29, payable on October 23rd, reflecting an annualized dividend yield of 0.6%.

Dimensional Fund Advisors LP trimmed its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 886,805 shares of the construction company's stock after selling 22,743 shares during the period. Dimensional Fund Advisors LP owned approximately 2.11% of Simpson Manufacturing worth $139,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Ameriprise Financial Inc. grew its position in shares of Simpson Manufacturing by 90.4% during the 4th quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company's stock valued at $96,405,000 after purchasing an additional 275,989 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Simpson Manufacturing by 5,137.3% during the 4th quarter. Quantinno Capital Management LP now owns 270,349 shares of the construction company's stock valued at $44,832,000 after purchasing an additional 265,187 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Simpson Manufacturing by 41,328.2% during the 1st quarter. GAMMA Investing LLC now owns 183,941 shares of the construction company's stock valued at $28,893,000 after purchasing an additional 183,497 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Simpson Manufacturing by 4,755.8% during the 4th quarter. Brown Advisory Inc. now owns 168,302 shares of the construction company's stock valued at $27,910,000 after purchasing an additional 164,836 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Simpson Manufacturing during the 1st quarter valued at $15,567,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson boosted 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. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Simpson Manufacturing presently has an average rating of "Moderate Buy" and a consensus target price of $188.50.

Insiders Place Their Bets

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares in the company, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.39% of the company's stock.

Simpson Manufacturing Trading Down 1.0%

Simpson Manufacturing stock traded down $1.92 during mid-day trading on Monday, hitting $195.16. The company's stock had a trading volume of 98,463 shares, compared to its average volume of 278,468. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 24.88 and a beta of 1.26. The business has a 50 day moving average price of $169.94 and a 200-day moving average price of $162.11. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $601.80 million. During the same quarter in the previous year, the company earned $2.31 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is 14.80%.

About Simpson Manufacturing

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.