Vanguard Group Inc. Sells 27,774 Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD)

Vanguard Group Inc. cut its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,177,097 shares of the construction company's stock after selling 27,774 shares during the period. Vanguard Group Inc. owned about 9.95% of Simpson Manufacturing worth $656,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Simpson Manufacturing during the fourth quarter worth $28,000. Investment Management Corp VA ADV acquired a new position in Simpson Manufacturing during the fourth quarter worth $28,000. Harbor Capital Advisors Inc. acquired a new position in Simpson Manufacturing during the first quarter worth $45,000. CWM LLC increased its holdings in Simpson Manufacturing by 39.1% during the first quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after buying an additional 93 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in 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 buying an additional 321 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the sale, the executive vice president owned 7,794 shares of the company's stock, valued at approximately $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is currently owned by company insiders.

Simpson Manufacturing Stock Performance

SSD stock traded down $4.25 during midday trading on Friday, reaching $186.94. 288,280 shares of the company were exchanged, compared to its average volume of 321,279. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. The business has a 50-day moving average price of $166.64 and a two-hundred day moving average price of $161.33. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $197.82. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 23.84 and a beta of 1.26.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping 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 firm had revenue of $631.06 million during the quarter, compared to analysts' expectations of $601.80 million. During the same period in the previous year, the business posted $2.31 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's payout ratio is 14.80%.

Simpson Manufacturing 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.