Mitsubishi UFJ Trust & Banking Corp Sells 30,483 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Simpson Manufacturing by 41.2%, selling 30,483 shares and now holds 43,435 shares worth about $7.01M (≈0.10% of the company).
• Simpson beat expectations for the quarter with $2.13 EPS vs $1.84 expected and $587.96M revenue (up 9.1% year-over-year), producing a 14.92% net margin and 17.72% ROE.
• Analysts are mixed: the consensus rating is "Hold" with an average target of $214.75, although several firms recently raised price targets into the $210–$220 range.

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 41.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,435 shares of the construction company's stock after selling 30,483 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of Simpson Manufacturing worth $7,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its holdings in shares of Simpson Manufacturing by 2.1% in the third quarter. Parkside Financial Bank & Trust now owns 2,837 shares of the construction company's stock worth $475,000 after buying an additional 58 shares in the last quarter. Apollon Wealth Management LLC grew its stake in Simpson Manufacturing by 1.3% during the fourth quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company's stock valued at $796,000 after acquiring an additional 62 shares in the last quarter. MGO One Seven LLC increased its holdings in Simpson Manufacturing by 1.1% in the 3rd quarter. MGO One Seven LLC now owns 8,234 shares of the construction company's stock valued at $1,379,000 after acquiring an additional 87 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Simpson Manufacturing by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company's stock valued at $4,236,000 after acquiring an additional 89 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its stake in Simpson Manufacturing by 0.3% in the 3rd quarter. NewEdge Wealth LLC now owns 29,280 shares of the construction company's stock worth $4,968,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SSD shares. Stephens lifted their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an "equal weight" rating in a report on Tuesday. Stifel Nicolaus increased their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Weiss Ratings cut Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 2nd. Wall Street Zen downgraded Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. Finally, Robert W. Baird upped their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $214.75.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $192.09 on Friday. The company's 50-day moving average price is $180.16 and its 200-day moving average price is $177.29. The company has a quick ratio of 1.99, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The company has a market cap of $7.91 billion, a PE ratio of 22.52 and a beta of 1.34. Simpson Manufacturing Company, Inc. has a twelve month low of $151.38 and a twelve month high of $211.98.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm had revenue of $587.96 million during the quarter, compared to the consensus estimate of $550.08 million. During the same quarter last year, the firm earned $1.85 EPS. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.18 EPS for the current fiscal year.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.