Invesco Ltd. Has $67.30 Million Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Invesco Ltd. decreased its holdings in Simpson Manufacturing by 28.1%, owning 428,469 shares worth approximately $67.3 million as of the latest SEC filing.
• Simpson Manufacturing recently announced a quarterly dividend of $0.29 per share, scheduled for payment on October 23rd, reflecting a 0.6% dividend yield.
• The stock of Simpson Manufacturing experienced a 2.2% decline in value, currently trading around $186.94, with a market cap of $7.78 billion.

Invesco Ltd. decreased its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 28.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428,469 shares of the construction company's stock after selling 167,066 shares during the period. Invesco Ltd. owned 1.02% of Simpson Manufacturing worth $67,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP bought a new stake in shares of Simpson Manufacturing in the fourth quarter valued at about $28,000. Investment Management Corp VA ADV bought a new stake in Simpson Manufacturing in the 4th quarter valued at $28,000. Harbor Capital Advisors Inc. acquired a new position in shares of Simpson Manufacturing in the 1st quarter valued at $45,000. CWM LLC boosted its position in shares of Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after acquiring an additional 93 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. The trade was a 24.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson upped their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $188.50.

Simpson Manufacturing Trading Down 1.6%

Shares of SSD traded down $3.00 on Wednesday, reaching $188.91. 280,407 shares of the company's stock were exchanged, compared to its average volume of 278,059. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $7.86 billion, a P/E ratio of 24.09 and a beta of 1.26. The business has a 50 day moving average price of $167.85 and a two-hundred day moving average price of $161.62.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.08. The business had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The firm's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 earnings per share. Research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is 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.