CIBC Private Wealth Group LLC cut its stake in shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,629 shares of the construction company’s stock after selling 4,332 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.05% of Simpson Manufacturing worth $1,639,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of SSD. JPMorgan Chase & Co. grew its stake in Simpson Manufacturing by 66.1% in the second quarter. JPMorgan Chase & Co. now owns 973,808 shares of the construction company’s stock valued at $64,136,000 after acquiring an additional 387,592 shares during the period. BlackRock Inc. grew its stake in Simpson Manufacturing by 3.6% in the second quarter. BlackRock Inc. now owns 6,306,867 shares of the construction company’s stock valued at $419,153,000 after acquiring an additional 221,543 shares during the period. Nuveen Asset Management LLC acquired a new position in Simpson Manufacturing in the second quarter valued at about $11,908,000. Eagle Asset Management Inc. grew its stake in Simpson Manufacturing by 178.5% in the second quarter. Eagle Asset Management Inc. now owns 132,326 shares of the construction company’s stock valued at $8,794,000 after acquiring an additional 84,819 shares during the period. Finally, FMR LLC grew its stake in Simpson Manufacturing by 9.0% in the first quarter. FMR LLC now owns 949,208 shares of the construction company’s stock valued at $56,260,000 after acquiring an additional 78,490 shares during the period. 89.70% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on SSD shares. Zacks Investment Research raised Simpson Manufacturing from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Sidoti cut Simpson Manufacturing from a “buy” rating to a “neutral” rating and decreased their target price for the company from $72.00 to $60.00 in a research note on Tuesday, July 30th. Finally, ValuEngine cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.
NYSE:SSD opened at $72.38 on Monday. Simpson Manufacturing Co, Inc. has a 1 year low of $49.54 and a 1 year high of $73.18. The company has a current ratio of 3.90, a quick ratio of 2.21 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 5.31 and a beta of 1.37. The stock has a 50-day moving average price of $67.89 and a two-hundred day moving average price of $64.89.
Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, July 29th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.14). Simpson Manufacturing had a net margin of 11.21% and a return on equity of 14.69%. The business had revenue of $304.90 million during the quarter, compared to analyst estimates of $323.71 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Sell-side analysts forecast that Simpson Manufacturing Co, Inc. will post 2.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 3rd will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Simpson Manufacturing’s dividend payout ratio (DPR) is 31.83%.
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, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, 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, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.
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