Simpson Manufacturing Company, Inc. $SSD Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in Simpson Manufacturing Company by 14.1%, now owning 72,301 shares valued at approximately $11.36 million after selling 11,896 shares.
• Simpson Manufacturing recently declared a $0.29 quarterly dividend, with a yield of 0.6%, set to be paid on October 23rd to investors recorded by October 2nd.
• The company's stock price performance shows a 12-month high of $197.82 and a current average rating of "Moderate Buy" from analysts, with an adjusted target price of $185.00 from DA Davidson.

Wellington Management Group LLP lowered its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,301 shares of the construction company's stock after selling 11,896 shares during the quarter. Wellington Management Group LLP owned 0.17% of Simpson Manufacturing worth $11,357,000 as of its most recent filing with the Securities & Exchange Commission.

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

Simpson Manufacturing Stock Down 1.1%

NYSE SSD traded down $2.03 during trading on Monday, reaching $190.91. 224,715 shares of the company's stock traded hands, compared to its average volume of 261,357. The company's 50 day simple moving average is $173.96 and its two-hundred day simple moving average is $163.04. 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 12-month low of $137.35 and a 12-month high of $197.82. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 24.35 and a beta of 1.30.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. The firm had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 EPS. As a group, sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.29 per share. 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 is presently 14.80%.

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total transaction 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 represents a 11.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. The trade was a 24.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company's stock.

Analyst Ratings Changes

Separately, DA Davidson raised their price target 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. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Simpson Manufacturing has a consensus rating of "Moderate Buy" and an average target price of $188.50.

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.