Allspring Global Investments Holdings LLC Cuts Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Allspring Global Investments Holdings LLC trimmed its position in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,020 shares of the construction company’s stock after selling 20,970 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.57% of Simpson Manufacturing worth $50,068,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Natixis Advisors L.P. raised its stake in shares of Simpson Manufacturing by 6.8% during the 3rd quarter. Natixis Advisors L.P. now owns 11,298 shares of the construction company’s stock worth $1,693,000 after buying an additional 716 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Simpson Manufacturing by 37.8% in the third quarter. O Shaughnessy Asset Management LLC now owns 4,363 shares of the construction company’s stock worth $654,000 after acquiring an additional 1,197 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in Simpson Manufacturing in the third quarter valued at $1,059,000. Lazard Asset Management LLC boosted its position in shares of Simpson Manufacturing by 657.9% during the 3rd quarter. Lazard Asset Management LLC now owns 17,120 shares of the construction company’s stock worth $2,564,000 after purchasing an additional 14,861 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its stake in shares of Simpson Manufacturing by 40.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,591 shares of the construction company’s stock worth $1,437,000 after purchasing an additional 2,763 shares during the period. 93.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Robert W. Baird boosted their price target on Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th.

Simpson Manufacturing Trading Down 0.5 %

Shares of SSD stock opened at $164.25 on Thursday. The stock has a market cap of $6.92 billion, a P/E ratio of 20.58 and a beta of 1.32. The company has a quick ratio of 2.19, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. Simpson Manufacturing Co., Inc. has a fifty-two week low of $123.93 and a fifty-two week high of $218.38. The business has a fifty day simple moving average of $170.21 and a 200-day simple moving average of $184.85.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.07). Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The business had revenue of $530.58 million for the quarter, compared to analysts’ expectations of $549.87 million. During the same quarter last year, the business posted $2.05 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. On average, analysts forecast that Simpson Manufacturing Co., Inc. will post 8.44 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 4th will be given a dividend of $0.28 per share. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, July 3rd. Simpson Manufacturing’s payout ratio is currently 13.53%.

Insider Activity at Simpson Manufacturing

In other news, EVP Jennifer Lutz sold 750 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $171.14, for a total value of $128,355.00. Following the completion of the transaction, the executive vice president now directly owns 5,033 shares of the company’s stock, valued at $861,347.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jennifer Lutz sold 750 shares of Simpson Manufacturing stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $171.14, for a total transaction of $128,355.00. Following the completion of the sale, the executive vice president now directly owns 5,033 shares in the company, valued at $861,347.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Roger Dankel sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $175.13, for a total transaction of $350,260.00. Following the completion of the transaction, the executive vice president now directly owns 26,764 shares of the company’s stock, valued at approximately $4,687,179.32. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Simpson Manufacturing Company Profile

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.