PineStone Asset Management Inc. Reduces Stock Position in Simpson Manufacturing Company, Inc. $SSD

PineStone Asset Management Inc. lessened its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 12.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,610 shares of the construction company’s stock after selling 7,200 shares during the quarter. PineStone Asset Management Inc.’s holdings in Simpson Manufacturing were worth $8,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SSD. Hunter Perkins Capital Management LLC boosted its stake in shares of Simpson Manufacturing by 20.3% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 9,198 shares of the construction company’s stock valued at $1,485,000 after purchasing an additional 1,555 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in Simpson Manufacturing by 10.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,795 shares of the construction company’s stock worth $290,000 after buying an additional 175 shares during the period. Curated Wealth Partners LLC increased its stake in Simpson Manufacturing by 29.8% in the 4th quarter. Curated Wealth Partners LLC now owns 6,411 shares of the construction company’s stock worth $1,035,000 after buying an additional 1,473 shares during the period. Moody National Bank Trust Division bought a new stake in Simpson Manufacturing during the 4th quarter valued at about $203,000. Finally, SG Americas Securities LLC lifted its holdings in Simpson Manufacturing by 2,359.1% during the 4th quarter. SG Americas Securities LLC now owns 62,364 shares of the construction company’s stock valued at $10,070,000 after buying an additional 59,828 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Up 2.4%

NYSE:SSD opened at $171.22 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.54 and a quick ratio of 1.99. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $211.98. The company has a 50-day moving average of $186.55 and a 200 day moving average of $176.73. The firm has a market cap of $7.05 billion, a PE ratio of 20.75 and a beta of 1.35.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The business had revenue of $539.35 million for the quarter, compared to the consensus estimate of $530.70 million. During the same quarter last year, the firm posted $1.31 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, April 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.06%.

Analyst Ratings Changes

A number of equities analysts have commented on SSD shares. Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 18th. Stephens set a $200.00 price target on shares of Simpson Manufacturing in a research note on Tuesday, February 10th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. DA Davidson increased their price objective on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Finally, Robert W. Baird set a $222.00 price objective on Simpson Manufacturing in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Simpson Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $207.33.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.