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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP bought a new stake in shares of Simpson Manufacturing in the fourth quarter worth about $28,000. Investment Management Corp VA ADV purchased a new position in Simpson Manufacturing during the 4th quarter valued at approximately $28,000. Harbor Capital Advisors Inc. bought a new stake in Simpson Manufacturing in the 1st quarter worth approximately $45,000. CWM LLC raised its holdings in shares of Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after acquiring an additional 93 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 93.68% of the company's stock.

Analyst Upgrades and Downgrades

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

Simpson Manufacturing Price Performance

Shares of NYSE SSD traded down $0.56 during mid-day trading on Friday, hitting $181.48. 91,431 shares of the company's stock traded hands, compared to its average volume of 278,624. 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 1 year low of $137.35 and a 1 year high of $197.82. The company's 50-day moving average is $163.07 and its two-hundred day moving average is $160.55. The company has a market capitalization of $7.59 billion, a P/E ratio of 23.15 and a beta of 1.26.

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

Simpson Manufacturing Dividend Announcement

The business also recently declared 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. 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 currently 14.80%.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing 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 of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate 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.