M&T Bank Corp Trims Stake in Simpson Manufacturing Company, Inc. (NYSE:SSD)

M&T Bank Corp lowered its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 40.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,394 shares of the construction company's stock after selling 11,101 shares during the quarter. M&T Bank Corp's holdings in Simpson Manufacturing were worth $2,575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SSD. Quarry LP purchased a new stake in shares of Simpson Manufacturing in the fourth quarter valued at $28,000. Investment Management Corp VA ADV bought a new position in shares of Simpson Manufacturing in the fourth quarter worth about $28,000. Harbor Capital Advisors Inc. bought a new position in shares of Simpson Manufacturing in the first quarter worth about $45,000. Blue Trust Inc. grew its holdings in shares of Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock worth $55,000 after purchasing an additional 321 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Simpson Manufacturing by 1,542.3% in the fourth quarter. Jones Financial Companies Lllp now owns 427 shares of the construction company's stock worth $71,000 after purchasing an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Trading Down 0.6%

NYSE SSD opened at $167.01 on Friday. The company's 50-day moving average price is $158.56 and its 200-day moving average price is $159.85. The company has a current ratio of 3.17, a quick ratio of 1.54 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.99 billion, a PE ratio of 21.75 and a beta of 1.28. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The construction company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.14. The firm had revenue of $538.90 million for the quarter, compared to analysts' expectations of $531.81 million. Simpson Manufacturing had a net margin of 14.49% and a return on equity of 17.80%. The business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 earnings per share. Equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.69%. Simpson Manufacturing's dividend payout ratio is presently 15.10%.

About Simpson Manufacturing

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.

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