Royal Bank of Canada Sells 2,885 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Royal Bank of Canada cut its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,024 shares of the construction company's stock after selling 2,885 shares during the quarter. Royal Bank of Canada owned 0.56% of Simpson Manufacturing worth $38,974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Simpson Manufacturing in the 4th quarter worth approximately $28,000. Park Place Capital Corp purchased a new position in shares of Simpson Manufacturing during the fourth quarter valued at $29,000. R Squared Ltd acquired a new position in Simpson Manufacturing during the fourth quarter valued at $30,000. UMB Bank n.a. lifted its stake in Simpson Manufacturing by 88.2% in the 4th quarter. UMB Bank n.a. now owns 207 shares of the construction company's stock worth $34,000 after acquiring an additional 97 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in Simpson Manufacturing by 53.4% during the 4th quarter. V Square Quantitative Management LLC now owns 273 shares of the construction company's stock worth $45,000 after acquiring an additional 95 shares during the period. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SSD. DA Davidson reduced their price target on shares of Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Robert W. Baird cut their price objective on Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating for the company in a report on Tuesday, February 11th.

Simpson Manufacturing Stock Performance

SSD stock traded down $2.47 during trading on Wednesday, reaching $155.07. 18,549 shares of the stock were exchanged, compared to its average volume of 270,530. The stock has a 50 day simple moving average of $154.00 and a 200-day simple moving average of $165.12. The company has a current ratio of 3.21, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6.49 billion, a P/E ratio of 20.40 and a beta of 1.34. Simpson Manufacturing Co., Inc. has a twelve month low of $137.35 and a twelve month high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The construction company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $538.90 million during the quarter, compared to the consensus estimate of $531.81 million. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.77 EPS. As a group, sell-side analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be given 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 dividend yield of 0.75%. Simpson Manufacturing's 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.