Hsbc Holdings PLC Lowers Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Hsbc Holdings PLC reduced its Simpson Manufacturing stake by 57.5% in the second quarter, selling 6,568 shares and retaining 4,853 shares valued at approximately $1.0 million. Institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing exceeded quarterly expectations, reporting $3.09 in earnings per share versus the $2.72 consensus and revenue of $671.08 million, up 6.3% year over year.
• The company declared a quarterly dividend of $0.30 per share, equal to a 0.7% yield, while analysts maintain a consensus “Hold” rating with an average price target of $216.25.

Hsbc Holdings PLC trimmed its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 57.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,853 shares of the construction company's stock after selling 6,568 shares during the quarter. Hsbc Holdings PLC's holdings in Simpson Manufacturing were worth $1,009,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in Simpson Manufacturing by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock worth $798,000 after purchasing an additional 1,726 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Simpson Manufacturing by 11.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock worth $427,000 after acquiring an additional 286 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Simpson Manufacturing in the 1st quarter worth approximately $531,000. Goldman Sachs Group Inc. raised its holdings in Simpson Manufacturing by 43.3% in 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. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Simpson Manufacturing by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company's stock valued at $19,022,000 after acquiring an additional 12,865 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Performance

SSD stock opened at $173.33 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The company has a market cap of $7.13 billion, a P/E ratio of 18.94 and a beta of 1.31. The stock's fifty day moving average price is $188.14 and its 200-day moving average price is $186.48.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The company had revenue of $671.08 million during the quarter, compared to analysts' expectations of $658.76 million. During the same quarter in the prior year, the business earned $2.47 earnings per share. Simpson Manufacturing's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. Simpson Manufacturing's dividend payout ratio is presently 13.11%.

Insider Activity at Simpson Manufacturing

In other news, CEO Michael Olosky sold 3,502 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total value of $605,285.68. Following the transaction, the chief executive officer owned 51,398 shares in the company, valued at $8,883,630.32. This represents a 6.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SSD shares. UBS Group reiterated a "neutral" rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Wall Street Zen downgraded shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Weiss Ratings upgraded shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 24th. Stephens boosted their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a "cautious" rating in a report on Tuesday, July 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $216.25.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company's product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.

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