Nuveen Asset Management LLC Trims Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Nuveen Asset Management LLC reduced its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,228 shares of the construction company's stock after selling 2,731 shares during the quarter. Nuveen Asset Management LLC owned 0.25% of Simpson Manufacturing worth $17,616,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SSD. Norges Bank bought a new stake in shares of Simpson Manufacturing in the fourth quarter worth approximately $73,758,000. Raymond James Financial Inc. bought a new stake in Simpson Manufacturing during the fourth quarter valued at approximately $54,644,000. Ameriprise Financial Inc. grew its position in Simpson Manufacturing by 90.4% during the fourth quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company's stock valued at $96,405,000 after buying an additional 275,989 shares during the period. Champlain Investment Partners LLC grew its position in Simpson Manufacturing by 300.2% during the fourth quarter. Champlain Investment Partners LLC now owns 336,051 shares of the construction company's stock valued at $55,727,000 after buying an additional 252,085 shares during the period. Finally, Brown Advisory Inc. grew its position in shares of Simpson Manufacturing by 4,755.8% during the fourth quarter. Brown Advisory Inc. now owns 168,302 shares of the construction company's stock worth $27,910,000 after purchasing an additional 164,836 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Trading Up 0.6%

Shares of SSD traded up $0.99 during mid-day trading on Thursday, reaching $153.88. The stock had a trading volume of 26,158 shares, compared to its average volume of 256,641. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.21 and a quick ratio of 1.59. Simpson Manufacturing Co., Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The business's fifty day moving average is $153.95 and its 200 day moving average is $165.04. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 20.26 and a beta of 1.34.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $538.90 million for the quarter, compared to analysts' expectations of $531.81 million. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. The business's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. On average, sell-side analysts predict that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.29 per share. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.16 annualized dividend and a yield of 0.75%. Simpson Manufacturing's payout ratio is presently 15.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. DA Davidson reduced their target price on shares of Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird lowered their target price on shares of Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th.

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.