Federated Hermes Inc. Cuts Stock Position in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Key Points

• Federated Hermes Inc. reduced its stake in Simpson Manufacturing Company by 1.2%, selling 4,521 shares, and now owns 373,573 shares valued at approximately $58.68 million.
• Numerous institutional investors have increased their holdings in Simpson Manufacturing, with Ameriprise Financial boosting its stake by 90.4%, now holding 581,406 shares worth $96.41 million.
• Simpson Manufacturing reported a quarterly earnings per share (EPS) of $2.47, surpassing estimates, and announced a quarterly dividend of $0.29 per share, scheduled for payment on October 23rd.

Federated Hermes Inc. cut its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 373,573 shares of the construction company's stock after selling 4,521 shares during the quarter. Federated Hermes Inc. owned approximately 0.89% of Simpson Manufacturing worth $58,681,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SSD. Norges Bank purchased a new stake in Simpson Manufacturing in the 4th quarter worth about $73,758,000. Ameriprise Financial Inc. increased its holdings in Simpson Manufacturing by 90.4% in the 4th quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company's stock worth $96,405,000 after acquiring an additional 275,989 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Simpson Manufacturing by 5,137.3% in the 4th quarter. Quantinno Capital Management LP now owns 270,349 shares of the construction company's stock worth $44,832,000 after acquiring an additional 265,187 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Simpson Manufacturing by 300.2% in the 4th quarter. Champlain Investment Partners LLC now owns 336,051 shares of the construction company's stock worth $55,727,000 after acquiring an additional 252,085 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Simpson Manufacturing by 41,328.2% in the 1st quarter. GAMMA Investing LLC now owns 183,941 shares of the construction company's stock worth $28,893,000 after acquiring an additional 183,497 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company's stock.

Wall Street Analyst Weigh In

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

Simpson Manufacturing Price Performance

SSD traded down $0.50 during trading on Friday, reaching $178.93. 377,085 shares of the company were exchanged, compared to its average volume of 309,271. The company's 50-day moving average is $160.95 and its two-hundred day moving average is $160.17. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 22.82 and a beta of 1.26. The company has a quick ratio of 1.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. 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 announced its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. The business had revenue of $631.06 million for the quarter, compared to analyst estimates of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%. The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.31 EPS. Research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be paid 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 currently 14.80%.

Simpson Manufacturing 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.