Simpson Manufacturing Company, Inc. $SSD Stock Position Lowered by Harfst & Associates Inc.

Key Points

• Harfst & Associates Inc. sold 7,835 shares of Simpson Manufacturing Company, Inc., reducing their holdings by 50% during the first quarter, with remaining shares worth $1.23 million.
• Institutional investors hold a significant stake, owning 93.68% of Simpson Manufacturing's stock, indicating considerable confidence in the company.
• Simpson Manufacturing recently announced a quarterly dividend of $0.29, reflecting a 0.6% yield and a low payout ratio of 14.80%.

Harfst & Associates Inc. decreased its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 50.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,831 shares of the construction company's stock after selling 7,835 shares during the period. Harfst & Associates Inc.'s holdings in Simpson Manufacturing were worth $1,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SSD. LPL Financial LLC increased its position in shares of Simpson Manufacturing by 37.4% during the fourth quarter. LPL Financial LLC now owns 9,913 shares of the construction company's stock worth $1,644,000 after acquiring an additional 2,697 shares during the last quarter. Franklin Resources Inc. increased its holdings in Simpson Manufacturing by 70.3% during the 4th quarter. Franklin Resources Inc. now owns 4,890 shares of the construction company's stock worth $811,000 after purchasing an additional 2,019 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Simpson Manufacturing by 313.0% in the 4th quarter. Russell Investments Group Ltd. now owns 11,201 shares of the construction company's stock valued at $1,858,000 after purchasing an additional 8,489 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Simpson Manufacturing by 27.3% during the 4th quarter. Bank of Montreal Can now owns 6,780 shares of the construction company's stock valued at $1,124,000 after buying an additional 1,453 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Simpson Manufacturing by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,630 shares of the construction company's stock worth $3,089,000 after buying an additional 110 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Performance

Shares of NYSE:SSD traded up $2.78 on Tuesday, reaching $190.82. 46,669 shares of the company's stock were exchanged, compared to its average volume of 277,054. The business's 50-day moving average is $167.23 and its two-hundred day moving average is $161.41. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 24.38 and a beta of 1.26.

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 for the quarter, topping 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 firm had revenue of $631.06 million for the quarter, compared to analyst estimates of $601.80 million. During the same quarter in the prior year, the business earned $2.31 earnings per share. Simpson Manufacturing's quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be given 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 payout ratio is currently 14.80%.

Analysts Set New Price Targets

Separately, DA Davidson upped their price target on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $188.50.

Insider Activity

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the transaction, the executive vice president directly owned 7,794 shares of the company's stock, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

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.