TD Asset Management Inc Has $647,000 Stock Holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Key Points

• TD Asset Management Inc has significantly reduced its stake in Simpson Manufacturing by 96.2%, now holding just 4,116 shares valued at $647,000.
• Several institutional investors have recently altered their stakes in Simpson Manufacturing, with Ameriprise Financial Inc. increasing its holdings by 90.4% in the fourth quarter.
• The company reported a better-than-expected earnings per share of $2.47 for the last quarter, along with a 5.7% year-over-year revenue increase to $631.06 million.

TD Asset Management Inc lessened its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 96.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,116 shares of the construction company's stock after selling 103,146 shares during the period. TD Asset Management Inc's holdings in Simpson Manufacturing were worth $647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Baker Avenue Asset Management LP grew 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 valued at $232,148,000 after purchasing an additional 62,165 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Simpson Manufacturing by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 710,166 shares of the construction company's stock worth $117,804,000 after purchasing an additional 2,502 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Simpson Manufacturing by 1.8% during the 4th quarter. Burgundy Asset Management Ltd. now owns 630,436 shares of the construction company's stock worth $104,545,000 after purchasing an additional 10,940 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Simpson Manufacturing by 90.4% during the 4th 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 grew its stake in shares of Simpson Manufacturing by 21.2% in the fourth quarter. Northern Trust Corp now owns 551,986 shares of the construction company's stock worth $91,536,000 after acquiring an additional 96,559 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson raised their price objective on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th.

Insider Buying and Selling

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the transaction, the executive vice president directly owned 7,794 shares of the company's stock, valued at $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Simpson Manufacturing Stock Up 0.7%

Shares of SSD opened at $180.44 on Tuesday. 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 company has a 50-day simple moving average of $161.47 and a 200-day simple moving average of $160.16. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82. The firm has a market capitalization of $7.55 billion, a P/E ratio of 23.01 and a beta of 1.26.

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

Simpson Manufacturing Announces Dividend

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 given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is 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.

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