Simpson Manufacturing Company, Inc. $SSD Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. cut its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 689,900 shares of the construction company’s stock after selling 3,875 shares during the quarter. Burgundy Asset Management Ltd. owned 1.66% of Simpson Manufacturing worth $115,531,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Trust Advisors LP grew its stake in Simpson Manufacturing by 33.6% in the 2nd quarter. First Trust Advisors LP now owns 514,406 shares of the construction company’s stock valued at $79,893,000 after acquiring an additional 129,354 shares during the period. Champlain Investment Partners LLC grew its position in shares of Simpson Manufacturing by 24.2% in the second quarter. Champlain Investment Partners LLC now owns 501,850 shares of the construction company’s stock valued at $77,942,000 after purchasing an additional 97,856 shares during the period. Norges Bank acquired a new stake in shares of Simpson Manufacturing in the second quarter valued at about $77,528,000. Maren Capital LLC increased its stake in shares of Simpson Manufacturing by 18.0% during the second quarter. Maren Capital LLC now owns 381,519 shares of the construction company’s stock worth $59,254,000 after purchasing an additional 58,294 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Simpson Manufacturing by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 343,327 shares of the construction company’s stock worth $53,322,000 after purchasing an additional 21,781 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Trading Up 0.3%

Shares of SSD stock opened at $191.43 on Thursday. The company has a current ratio of 3.54, a quick ratio of 1.99 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $211.98. The company’s 50-day moving average price is $185.71 and its 200-day moving average price is $178.93. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 23.20 and a beta of 1.35.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, February 9th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.09. The firm had revenue of $539.35 million during the quarter, compared to analysts’ expectations of $530.70 million. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. Simpson Manufacturing’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $1.31 earnings per share. As a group, equities analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current 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 $0.29 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is currently 14.06%.

Wall Street Analyst Weigh In

SSD has been the topic of several research analyst reports. Weiss Ratings cut Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Robert W. Baird set a $222.00 target price on Simpson Manufacturing in a research report on Tuesday, February 10th. DA Davidson boosted their price target on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Stephens set a $200.00 price objective on Simpson Manufacturing in a research note on Tuesday, February 10th. Finally, Wall Street Zen upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Simpson Manufacturing currently has an average rating of “Hold” and a consensus target price of $207.33.

Insider Buying and Selling

In related news, Director Philip E. Donaldson sold 2,375 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $168.16, for a total value of $399,380.00. Following the completion of the transaction, the director directly owned 6,086 shares in the company, valued at approximately $1,023,421.76. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Simpson Manufacturing Profile

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.