Simpson Manufacturing Company, Inc. (NYSE:SSD) Shares Sold by Federated Hermes Inc.

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

Other hedge funds also recently made changes to their positions in the company. Baker Avenue Asset Management LP raised its position in shares of Simpson Manufacturing by 4.6% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,399,918 shares of the construction company's stock worth $232,148,000 after buying an additional 62,165 shares during the period. Geode Capital Management LLC raised its holdings in shares of Simpson Manufacturing by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 710,166 shares of the construction company's stock worth $117,804,000 after purchasing an additional 2,502 shares during the period. Burgundy Asset Management Ltd. lifted its stake in shares of Simpson Manufacturing by 1.8% in the 4th quarter. Burgundy Asset Management Ltd. now owns 630,436 shares of the construction company's stock valued at $104,545,000 after purchasing an additional 10,940 shares in the last quarter. Ameriprise Financial Inc. grew its holdings 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 worth $96,405,000 after purchasing an additional 275,989 shares during the period. Finally, Northern Trust Corp increased its position in Simpson Manufacturing by 21.2% during the 4th quarter. Northern Trust Corp now owns 551,986 shares of the construction company's stock worth $91,536,000 after purchasing an additional 96,559 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

Simpson Manufacturing Stock Down 0.3%

Shares of SSD stock traded down $0.50 during trading hours on Friday, reaching $178.93. The company had a trading volume of 377,084 shares, compared to its average volume of 279,499. The stock's fifty day simple moving average is $160.46 and its 200 day simple moving average is $160.07. The company has a market capitalization of $7.48 billion, a P/E ratio of 22.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.54 and a current ratio of 3.37. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The company had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. During the same quarter last year, the company earned $2.31 earnings per share. Simpson Manufacturing's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts expect 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. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is currently 14.80%.

Analyst Ratings Changes

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.

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.