Invesco Ltd. Sells 167,066 Shares of 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. lessened its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 28.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 428,469 shares of the construction company's stock after selling 167,066 shares during the quarter. Invesco Ltd. owned about 1.02% of Simpson Manufacturing worth $67,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Simpson Manufacturing in the 4th quarter valued at about $28,000. Investment Management Corp VA ADV acquired a new stake in shares of Simpson Manufacturing during the 4th quarter worth approximately $28,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Simpson Manufacturing during the 1st quarter worth approximately $45,000. CWM LLC grew 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 worth $52,000 after buying an additional 93 shares during the period. Finally, Blue Trust Inc. grew 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 worth $55,000 after buying an additional 321 shares during the period. Institutional investors and hedge funds own 93.68% of the company's stock.

Insiders Place Their Bets

In related news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $178.27, for a total transaction of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. This trade represents a 24.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Simpson Manufacturing Trading Up 0.2%

Simpson Manufacturing stock traded up $0.4010 during midday trading on Thursday, hitting $188.7810. 355,790 shares of the stock were exchanged, compared to its average volume of 345,470. The company has a fifty day simple moving average of $169.11 and a two-hundred day simple moving average of $161.96. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82. The stock has a market capitalization of $7.86 billion, a PE ratio of 24.08 and a beta of 1.26. 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 (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 business had revenue of $631.06 million for the quarter, compared to analyst estimates of $601.80 million. During the same quarter last year, the firm earned $2.31 EPS. Simpson Manufacturing's quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend 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 presently 14.80%.

Simpson Manufacturing Company 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.