Cornerstone Capital Inc. Sells 8,577 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Cornerstone Capital Inc. trimmed its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,741 shares of the construction company's stock after selling 8,577 shares during the quarter. Simpson Manufacturing comprises 3.3% of Cornerstone Capital Inc.'s portfolio, making the stock its 8th largest position. Cornerstone Capital Inc. owned approximately 0.36% of Simpson Manufacturing worth $30,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Contravisory Investment Management Inc. bought a new stake in Simpson Manufacturing during the 4th quarter valued at $29,000. Arlington Trust Co LLC bought a new stake in Simpson Manufacturing during the 3rd quarter valued at $31,000. GAMMA Investing LLC bought a new stake in Simpson Manufacturing during the 4th quarter valued at $35,000. McGlone Suttner Wealth Management Inc. bought a new stake in Simpson Manufacturing during the 4th quarter valued at $54,000. Finally, Signaturefd LLC raised its stake in Simpson Manufacturing by 36.1% during the 3rd quarter. Signaturefd LLC now owns 415 shares of the construction company's stock valued at $62,000 after acquiring an additional 110 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing stock in a transaction on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the transaction, the director now directly owns 14,638 shares in the company, valued at approximately $2,817,522.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Roger Dankel sold 850 shares of Simpson Manufacturing stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $198.08, for a total transaction of $168,368.00. Following the transaction, the executive vice president now owns 28,764 shares in the company, valued at $5,697,573.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer Chatman sold 934 shares of Simpson Manufacturing stock in a transaction on Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the transaction, the director now owns 14,638 shares in the company, valued at approximately $2,817,522.24. The disclosure for this sale can be found here. Insiders have sold 3,784 shares of company stock worth $770,924 in the last three months. 0.42% of the stock is currently owned by insiders.

Simpson Manufacturing Price Performance

Shares of SSD traded up $2.79 during midday trading on Friday, reaching $173.61. The stock had a trading volume of 549,928 shares, compared to its average volume of 343,710. Simpson Manufacturing Co., Inc. has a 52 week low of $117.08 and a 52 week high of $218.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.77 and a quick ratio of 2.11. The firm's 50 day moving average price is $195.70 and its 200-day moving average price is $179.57. The company has a market capitalization of $7.37 billion, a P/E ratio of 21.76 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.07). The company had revenue of $530.58 million during the quarter, compared to analyst estimates of $549.87 million. Simpson Manufacturing had a return on equity of 20.51% and a net margin of 15.45%. The business's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, analysts forecast that Simpson Manufacturing Co., Inc. will post 8.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

SSD has been the topic of a number of research reports. Robert W. Baird boosted their price objective on Simpson Manufacturing from $205.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, April 18th. StockNews.com raised Simpson Manufacturing from a "hold" rating to a "buy" rating in a research note on Wednesday.

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.