Simpson Manufacturing Company, Inc. (NYSE:SSD) Shares Sold by Jackson Square Partners LLC

Key Points

• Jackson Square Partners LLC reduced its stake in Simpson Manufacturing by 16.8%, selling 19,557 shares, and now holds approximately 0.23% of the company valued at $15.2 million.
• The company reported a profit of $2.47 per share for the latest quarter, surpassing expectations by $0.08 and exhibiting a 5.7% increase in year-over-year revenue.
• Simpson Manufacturing announced a quarterly dividend of $0.29 to be paid on October 23rd, representing an annual yield of 0.6%.

Jackson Square Partners LLC reduced its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,066 shares of the construction company's stock after selling 19,557 shares during the period. Simpson Manufacturing comprises about 2.1% of Jackson Square Partners LLC's holdings, making the stock its 27th largest holding. Jackson Square Partners LLC owned about 0.23% of Simpson Manufacturing worth $15,247,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SSD. Kestra Private Wealth Services LLC boosted its holdings in Simpson Manufacturing by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,965 shares of the construction company's stock valued at $466,000 after acquiring an additional 71 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Simpson Manufacturing by 1.4% during the first quarter. Apollon Wealth Management LLC now owns 5,404 shares of the construction company's stock worth $849,000 after purchasing an additional 74 shares in the last quarter. Xponance Inc. boosted its stake in shares of Simpson Manufacturing by 1.5% in the first quarter. Xponance Inc. now owns 5,262 shares of the construction company's stock valued at $827,000 after purchasing an additional 78 shares during the period. CWM LLC grew its holdings in shares of Simpson Manufacturing by 39.1% in the first quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after purchasing an additional 93 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Simpson Manufacturing by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,127 shares of the construction company's stock valued at $1,591,000 after purchasing an additional 100 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson raised 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, July 29th.

Simpson Manufacturing Stock Down 0.5%

NYSE SSD traded down $0.96 during trading hours on Friday, hitting $181.07. 227,015 shares of the company were exchanged, compared to its average volume of 319,639. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 23.10 and a beta of 1.26. The company has a 50 day moving average of $163.57 and a two-hundred day moving average of $160.62. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%. The business had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. During the same period in the previous year, the company posted $2.31 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is presently 14.80%.

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction 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 completion of the sale, the executive vice president directly owned 7,794 shares of the company's stock, valued at approximately $1,389,436.38. The trade was a 24.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% 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.