The Manufacturers Life Insurance Company cut its holdings in Simpson Manufacturing Co, Inc. (NYSE:SSD) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,110 shares of the construction company’s stock after selling 7,084 shares during the period. The Manufacturers Life Insurance Company owned about 0.17% of Simpson Manufacturing worth $4,599,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in shares of Simpson Manufacturing in the 3rd quarter worth approximately $103,000. Shelton Capital Management purchased a new stake in shares of Simpson Manufacturing in the 4th quarter worth approximately $209,000. Everence Capital Management Inc. purchased a new stake in shares of Simpson Manufacturing in the 4th quarter worth approximately $229,000. Neuberger Berman Group LLC purchased a new stake in shares of Simpson Manufacturing in the 3rd quarter worth approximately $230,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of Simpson Manufacturing in the 4th quarter worth approximately $291,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.
In other news, major shareholder Sharon H. Simpson sold 76,803 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $58.28, for a total value of $4,476,078.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Sharon H. Simpson sold 21,600 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $58.37, for a total transaction of $1,260,792.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 814,153 shares of company stock worth $47,817,333. Insiders own 0.39% of the company’s stock.
SSD has been the subject of a number of analyst reports. Sidoti initiated coverage on shares of Simpson Manufacturing in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 target price for the company. Zacks Investment Research raised shares of Simpson Manufacturing from a “sell” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Friday, February 9th. Robert W. Baird restated a “buy” rating and set a $64.00 price target on shares of Simpson Manufacturing in a research note on Tuesday, January 9th. Finally, DA Davidson lowered shares of Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research note on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Simpson Manufacturing currently has an average rating of “Hold” and a consensus target price of $63.75.
Simpson Manufacturing stock traded down $0.32 during mid-day trading on Monday, reaching $57.72. 61,464 shares of the company traded hands, compared to its average volume of 290,047. The firm has a market capitalization of $2,709.59, a price-to-earnings ratio of 29.82, a PEG ratio of 4.35 and a beta of 1.54. Simpson Manufacturing Co, Inc. has a 52 week low of $39.82 and a 52 week high of $61.62.
Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, February 5th. The construction company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.10). The firm had revenue of $231.68 million for the quarter, compared to analyst estimates of $224.47 million. Simpson Manufacturing had a net margin of 9.48% and a return on equity of 9.64%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. analysts predict that Simpson Manufacturing Co, Inc. will post 2.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 26th. Shareholders of record on Thursday, April 5th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, April 4th. Simpson Manufacturing’s payout ratio is 43.52%.
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About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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