Rafferty Asset Management LLC cut its holdings in Simpson Manufacturing Co, Inc. (NYSE:SSD) by 27.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,118 shares of the construction company’s stock after selling 1,578 shares during the period. Rafferty Asset Management LLC’s holdings in Simpson Manufacturing were worth $298,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of SSD. Granite Investment Partners LLC grew its holdings in shares of Simpson Manufacturing by 11.2% during the third quarter. Granite Investment Partners LLC now owns 8,847 shares of the construction company’s stock worth $641,000 after purchasing an additional 892 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Simpson Manufacturing by 56.1% during the second quarter. Sei Investments Co. now owns 2,485 shares of the construction company’s stock worth $154,000 after purchasing an additional 893 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Simpson Manufacturing by 1.6% during the third quarter. Bahl & Gaynor Inc. now owns 75,206 shares of the construction company’s stock worth $5,449,000 after purchasing an additional 1,161 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Simpson Manufacturing by 14.1% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,953 shares of the construction company’s stock worth $721,000 after purchasing an additional 1,233 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in shares of Simpson Manufacturing by 7.4% during the second quarter. MetLife Investment Advisors LLC now owns 18,988 shares of the construction company’s stock worth $1,181,000 after purchasing an additional 1,310 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.
NYSE SSD opened at $56.36 on Wednesday. Simpson Manufacturing Co, Inc. has a 52-week low of $53.15 and a 52-week high of $78.36. The stock has a market cap of $2.69 billion, a P/E ratio of 28.46, a P/E/G ratio of 3.84 and a beta of 1.74.
Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, October 29th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. Simpson Manufacturing had a return on equity of 14.43% and a net margin of 11.88%. The firm had revenue of $284.18 million for the quarter, compared to analyst estimates of $296.80 million. During the same quarter last year, the company posted $0.59 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that Simpson Manufacturing Co, Inc. will post 3.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Thursday, January 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, January 2nd. Simpson Manufacturing’s dividend payout ratio is currently 44.44%.
SSD has been the topic of several research reports. Sidoti raised their price objective on Simpson Manufacturing from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Robert W. Baird lowered Simpson Manufacturing from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $75.00 to $72.00 in a report on Monday, October 15th. Zacks Investment Research lowered Simpson Manufacturing from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, ValuEngine lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $74.00.
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Simpson Manufacturing Profile
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.
Further Reading: Different Types of Derivatives
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