PineStone Asset Management Inc. Sells 7,100 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

PineStone Asset Management Inc. cut its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,500 shares of the construction company's stock after selling 7,100 shares during the period. PineStone Asset Management Inc. owned about 0.12% of Simpson Manufacturing worth $10,394,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Contravisory Investment Management Inc. bought a new position in Simpson Manufacturing during the 4th quarter valued at $29,000. GAMMA Investing LLC bought a new position in Simpson Manufacturing during the 4th quarter valued at $35,000. Headlands Technologies LLC bought a new stake in shares of Simpson Manufacturing during the 4th quarter worth $37,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Simpson Manufacturing in the 4th quarter worth about $54,000. Finally, Signaturefd LLC grew its position in Simpson Manufacturing by 36.1% during the third quarter. Signaturefd LLC now owns 415 shares of the construction company's stock valued at $62,000 after buying an additional 110 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Roger Dankel sold 2,000 shares of Simpson Manufacturing stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $175.13, for a total transaction of $350,260.00. Following the completion of the sale, the executive vice president now owns 26,764 shares of the company's stock, valued at $4,687,179.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,850 shares of company stock worth $941,408 in the last three months. Corporate insiders own 0.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SSD. Robert W. Baird increased their target price on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, April 18th. StockNews.com downgraded Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Thursday, May 2nd.

Simpson Manufacturing Stock Performance

SSD stock traded down $1.21 during midday trading on Friday, reaching $168.35. 441,688 shares of the company's stock traded hands, compared to its average volume of 413,939. The firm has a market capitalization of $7.10 billion, a PE ratio of 21.10 and a beta of 1.33. 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 quick ratio of 2.19 and a current ratio of 3.77. The company has a 50-day moving average price of $187.16 and a two-hundred day moving average price of $184.13.

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

Simpson Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 4th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. This is an increase from Simpson Manufacturing's previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, July 3rd. Simpson Manufacturing's dividend payout ratio (DPR) is presently 13.53%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.