Natixis Advisors LLC Cuts Holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Key Points

• Natixis Advisors LLC reduced its holdings in Simpson Manufacturing by 15%, selling 3,384 shares, bringing their total to 19,222 shares valued at $3,019,000.
• Simpson Manufacturing reported a Q2 EPS of $2.47, exceeding estimates, with revenue of $631.06 million—up 5.7% year-over-year.
• The company declared a quarterly dividend of $0.29 per share, which will be paid on October 23rd, representing an annual yield of 0.6%.

Natixis Advisors LLC reduced its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 15.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,222 shares of the construction company's stock after selling 3,384 shares during the period. Natixis Advisors LLC's holdings in Simpson Manufacturing were worth $3,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Simpson Manufacturing by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 97,163 shares of the construction company's stock valued at $15,262,000 after purchasing an additional 380 shares during the last quarter. GAMMA Investing LLC increased its stake in Simpson Manufacturing by 163.7% during the 1st quarter. GAMMA Investing LLC now owns 1,171 shares of the construction company's stock valued at $184,000 after purchasing an additional 727 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Simpson Manufacturing by 708.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,590 shares of the construction company's stock worth $2,135,000 after buying an additional 11,908 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Simpson Manufacturing by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company's stock worth $776,000 after buying an additional 135 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Simpson Manufacturing by 1,070.0% during the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Simpson Manufacturing

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 7,794 shares in the company, valued at $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

Simpson Manufacturing Stock Performance

NYSE:SSD traded down $0.96 during midday trading on Friday, hitting $181.07. The company's stock had a trading volume of 227,015 shares, compared to its average volume of 319,639. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The firm's 50 day moving average is $163.57 and its 200-day moving average is $160.58. The firm has a market cap of $7.57 billion, a P/E ratio of 23.10 and a beta of 1.26.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.08. The company had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 earnings per share. Equities analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be given 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 payout ratio is currently 14.80%.

Simpson Manufacturing Company Profile

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.