SG Americas Securities LLC Sells 6,971 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• SG Americas Securities cut its Simpson Manufacturing stake by 11.2% in Q1, selling 6,971 shares and leaving it with 55,393 shares worth about $9.5 million.
• Simpson Manufacturing reported strong quarterly results, posting $2.13 EPS versus $1.84 expected and revenue of $587.96 million, both above analyst forecasts. Revenue also rose 9.1% year over year.
• The company raised its quarterly dividend to $0.30 per share from $0.29, putting the annualized payout at $1.20 and the yield at 0.6%.

SG Americas Securities LLC decreased its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,393 shares of the construction company's stock after selling 6,971 shares during the quarter. SG Americas Securities LLC owned about 0.13% of Simpson Manufacturing worth $9,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in SSD. AQR Capital Management LLC lifted its holdings in Simpson Manufacturing by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock worth $798,000 after purchasing an additional 1,726 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Simpson Manufacturing by 11.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock valued at $427,000 after buying an additional 286 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Simpson Manufacturing during the first quarter valued at about $531,000. Goldman Sachs Group Inc. increased its position in shares of Simpson Manufacturing by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock valued at $33,327,000 after buying an additional 64,114 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Simpson Manufacturing by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company's stock worth $19,022,000 after buying an additional 12,865 shares in the last quarter. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Stock Performance

NYSE:SSD opened at $209.71 on Friday. The stock has a market cap of $8.63 billion, a P/E ratio of 24.58 and a beta of 1.32. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The business's 50-day moving average price is $189.15 and its two-hundred day moving average price is $182.97. Simpson Manufacturing Company, Inc. has a twelve month low of $154.22 and a twelve month high of $213.49.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.84 by $0.29. The company had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.Simpson Manufacturing's revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. As a group, equities analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.29. Simpson Manufacturing's dividend payout ratio is presently 13.60%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SSD shares. Robert W. Baird raised their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. DA Davidson upped their target price on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Finally, Stifel Nicolaus boosted their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $214.75.

About Simpson Manufacturing

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.

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