Simpson Manufacturing Company, Inc. $SSD Shares Sold by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors LLC reduced its stake in Simpson Manufacturing by 2.5%, now holding approximately 1,103,162 shares valued at around $171 million.
• Simpson Manufacturing recently announced a quarterly dividend of $0.29 per share, with a yield of 0.7%, scheduled for payment on October 23rd.
• Analysts have given Simpson Manufacturing an average rating of "Hold" with a price target of $191.00, and the stock has shown a 1.5% increase recently.

Conestoga Capital Advisors LLC trimmed its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,103,162 shares of the construction company's stock after selling 28,588 shares during the period. Simpson Manufacturing makes up about 2.5% of Conestoga Capital Advisors LLC's holdings, making the stock its 13th largest holding. Conestoga Capital Advisors LLC owned about 2.64% of Simpson Manufacturing worth $171,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Simpson Manufacturing in the 2nd quarter valued at $31,000. CWM LLC grew its position in 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 acquiring an additional 93 shares in the last quarter. Steph & Co. purchased a new stake in Simpson Manufacturing during the second quarter worth about $53,000. Blue Trust Inc. lifted its position 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 worth $55,000 after purchasing an additional 321 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of Simpson Manufacturing in the first quarter valued at approximately $72,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SSD. DA Davidson upped their target price on shares of Simpson Manufacturing from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Simpson Manufacturing currently has an average rating of "Hold" and a consensus price target of $191.00.

Simpson Manufacturing Stock Up 1.5%

SSD stock opened at $174.24 on Monday. The company's 50 day moving average price is $182.50 and its 200 day moving average price is $167.12. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 22.22 and a beta of 1.28. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The company had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. During the same period in the prior year, the firm posted $2.31 EPS. The company's quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS 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 issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is 14.80%.

Insiders Place Their Bets

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the sale, the executive vice president owned 7,794 shares of the company's stock, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president directly owned 7,810 shares of the company's stock, valued at $1,531,775.30. This trade represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

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.

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