Simpson Manufacturing Company, Inc. $SSD Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in Simpson Manufacturing by 28.5%, now owning approximately 133,644 shares valued at $20.99 million.
• Simpson Manufacturing reported an earnings per share (EPS) of $2.47 for the recent quarter, exceeding analyst expectations and marking a year-over-year revenue increase of 5.7%.
• The company recently announced a quarterly dividend of $0.29 per share, with a dividend yield of 0.6%, scheduled for payment on October 23rd.

T. Rowe Price Investment Management Inc. reduced its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 28.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,644 shares of the construction company's stock after selling 53,207 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.32% of Simpson Manufacturing worth $20,993,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Simpson Manufacturing by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,747,872 shares of the construction company's stock valued at $274,556,000 after buying an additional 30,614 shares during the period. Baker Avenue Asset Management LP raised its holdings in Simpson Manufacturing by 4.6% during the fourth quarter. Baker Avenue Asset Management LP now owns 1,399,918 shares of the construction company's stock worth $232,148,000 after purchasing an additional 62,165 shares during the last quarter. Burgundy Asset Management Ltd. raised its holdings in Simpson Manufacturing by 6.8% during the first quarter. Burgundy Asset Management Ltd. now owns 673,535 shares of the construction company's stock worth $105,799,000 after purchasing an additional 43,099 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Simpson Manufacturing by 90.4% during the fourth quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company's stock worth $96,405,000 after purchasing an additional 275,989 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Simpson Manufacturing by 0.7% during the first quarter. Northern Trust Corp now owns 556,097 shares of the construction company's stock worth $87,352,000 after purchasing an additional 4,111 shares during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, DA Davidson lifted their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $188.50.

Insiders Place Their Bets

In related news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the transaction, the executive vice president owned 7,810 shares in the company, valued at approximately $1,531,775.30. This trade represents a 11.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares in the company, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Simpson Manufacturing Trading Down 0.9%

Simpson Manufacturing stock traded down $1.65 during midday trading on Friday, reaching $191.29. The stock had a trading volume of 39,945 shares, compared to its average volume of 276,093. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82. The stock has a market capitalization of $7.96 billion, a PE ratio of 24.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The stock's 50-day simple moving average is $173.21 and its 200 day simple moving average is $162.94.

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

Simpson Manufacturing Dividend Announcement

The company 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. 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 dividend payout ratio (DPR) is presently 14.80%.

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.