Corebridge Financial Inc. Reduces Stock Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Corebridge Financial Inc. lessened its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,756 shares of the construction company’s stock after selling 2,152 shares during the period. Corebridge Financial Inc.’s holdings in Simpson Manufacturing were worth $7,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York Life Investment Management LLC acquired a new stake in Simpson Manufacturing during the 4th quarter worth about $738,000. Diversified Trust Co acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $591,000. Geode Capital Management LLC boosted its stake in shares of Simpson Manufacturing by 1.0% in the third quarter. Geode Capital Management LLC now owns 707,664 shares of the construction company’s stock worth $135,390,000 after buying an additional 7,351 shares during the last quarter. Van ECK Associates Corp grew its holdings in Simpson Manufacturing by 29.3% during the fourth quarter. Van ECK Associates Corp now owns 36,052 shares of the construction company’s stock worth $5,979,000 after acquiring an additional 8,170 shares during the period. Finally, Financial Advocates Investment Management purchased a new position in Simpson Manufacturing during the fourth quarter valued at approximately $401,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total value of $169,980.00. Following the completion of the sale, the executive vice president now owns 8,810 shares in the company, valued at approximately $1,497,523.80. This represents a 10.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Simpson Manufacturing Stock Down 0.1 %

SSD stock opened at $158.93 on Friday. Simpson Manufacturing Co., Inc. has a 52 week low of $152.74 and a 52 week high of $206.48. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $164.98 and a 200-day simple moving average of $175.26. The stock has a market capitalization of $6.70 billion, a P/E ratio of 20.91 and a beta of 1.39.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. Equities analysts forecast that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. Simpson Manufacturing’s payout ratio is currently 14.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SSD shares. DA Davidson lowered their price objective on Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird lowered their price target on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.