Simpson Manufacturing Company, Inc. $SSD Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard trimmed its stake in Simpson Manufacturing by 1.1% (selling 46,065 shares) and still holds 4,036,612 shares—about 9.74% of the company, valued at roughly $651.8 million, while institutional investors own about 93.68% of the stock.
• Simpson beat expectations in its latest quarter with $2.13 EPS vs. $1.84 expected and revenue of $587.96 million (up 9.1% year-over-year), reporting strong profitability metrics including a 17.72% ROE and a 14.92% net margin.
• Analysts are mixed: the consensus rating is Hold with a $214.75 target, despite recent price-target raises from Baird, Stifel and DA Davidson and downgrades from Wall Street Zen and Weiss Ratings.

Vanguard Group Inc. reduced its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,036,612 shares of the construction company's stock after selling 46,065 shares during the period. Vanguard Group Inc. owned about 9.74% of Simpson Manufacturing worth $651,792,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock worth $25,000 after acquiring an additional 92 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Simpson Manufacturing by 322.5% during the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company's stock worth $28,000 after buying an additional 129 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Simpson Manufacturing during the fourth quarter worth $28,000. Brown Brothers Harriman & Co. purchased a new stake in Simpson Manufacturing in the third quarter valued at $34,000. Finally, Hantz Financial Services Inc. raised its position in Simpson Manufacturing by 98.0% in the third quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company's stock valued at $49,000 after purchasing an additional 144 shares during the period. 93.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SSD shares. Wall Street Zen downgraded Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Robert W. Baird upped their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Stifel Nicolaus increased their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Weiss Ratings downgraded Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 2nd. Finally, DA Davidson upped their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Simpson Manufacturing currently has an average rating of "Hold" and a consensus target price of $214.75.

Simpson Manufacturing Stock Up 0.0%

SSD opened at $192.09 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. The business has a 50 day simple moving average of $180.16 and a 200-day simple moving average of $177.35. The stock has a market capitalization of $7.91 billion, a P/E ratio of 22.52 and a beta of 1.34. Simpson Manufacturing Company, Inc. has a 12 month low of $151.38 and a 12 month high of $211.98.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.84 by $0.29. The business had revenue of $587.96 million during the quarter, compared to analysts' expectations of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The company's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. On average, equities analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.18 earnings per share for the current fiscal year.

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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