New Age Alpha Advisors LLC Cuts Stock Holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Simpson Manufacturing Company by 39.3%, now owning 5,650 shares valued at approximately $888,000.
• Multiple institutional investors, including Franklin Resources Inc. and LPL Financial LLC, have increased their positions significantly in Simpson Manufacturing during the recent quarter.
• Simpson Manufacturing reported a quarterly EPS of $2.47, beating expectations, alongside a revenue of $631.06 million, representing a 5.7% increase year-over-year.

New Age Alpha Advisors LLC cut its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 39.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,650 shares of the construction company's stock after selling 3,664 shares during the quarter. New Age Alpha Advisors LLC's holdings in Simpson Manufacturing were worth $888,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Separately, DA Davidson boosted their price target on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th.

Simpson Manufacturing Stock Up 3.9%

Shares of NYSE SSD traded up $7.03 during trading hours on Tuesday, hitting $188.51. 196,171 shares of the stock were exchanged, compared to its average volume of 278,873. 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 company has a market cap of $7.89 billion, a PE ratio of 24.04 and a beta of 1.26. The firm has a fifty day moving average price of $164.10 and a 200-day moving average price of $160.64. 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 data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.39 by $0.08. The firm had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. Simpson Manufacturing's revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 EPS. On average, sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio is presently 14.80%.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company's 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 in the company, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company's stock.

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.