Cornerstone Capital Inc. Has $30.44 Million Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Cornerstone Capital Inc. decreased its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 5.3% in the 4th quarter, HoldingsChannel reports. The fund owned 153,741 shares of the construction company’s stock after selling 8,577 shares during the period. Simpson Manufacturing makes up about 3.3% of Cornerstone Capital Inc.’s holdings, making the stock its 8th biggest holding. Cornerstone Capital Inc.’s holdings in Simpson Manufacturing were worth $30,438,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SSD. FMR LLC grew its holdings in Simpson Manufacturing by 48.6% during the third quarter. FMR LLC now owns 1,051,150 shares of the construction company’s stock worth $157,473,000 after buying an additional 343,986 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Simpson Manufacturing by 31.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 591,941 shares of the construction company’s stock worth $88,679,000 after buying an additional 140,401 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in Simpson Manufacturing by 1.5% during the third quarter. Burgundy Asset Management Ltd. now owns 567,768 shares of the construction company’s stock worth $85,057,000 after buying an additional 8,437 shares in the last quarter. Invesco Ltd. grew its holdings in Simpson Manufacturing by 309.3% during the third quarter. Invesco Ltd. now owns 482,881 shares of the construction company’s stock worth $72,340,000 after buying an additional 364,910 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Simpson Manufacturing by 0.3% during the third quarter. Rhumbline Advisers now owns 137,674 shares of the construction company’s stock worth $20,625,000 after buying an additional 454 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Phillip Burton sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total transaction of $422,780.00. Following the transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Phillip Burton sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total transaction of $422,780.00. Following the transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer Chatman sold 934 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $192.48, for a total value of $179,776.32. Following the transaction, the director now directly owns 14,638 shares in the company, valued at approximately $2,817,522.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,784 shares of company stock valued at $770,924. Insiders own 0.42% of the company’s stock.

Simpson Manufacturing Stock Up 1.6 %

SSD stock opened at $173.61 on Friday. The stock’s fifty day simple moving average is $195.70 and its two-hundred day simple moving average is $179.30. The company has a current ratio of 3.77, a quick ratio of 2.11 and a debt-to-equity ratio of 0.26. Simpson Manufacturing Co., Inc. has a 1-year low of $117.08 and a 1-year high of $218.38. The stock has a market cap of $7.37 billion, a P/E ratio of 21.76 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data 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 return on equity of 20.51% and a net margin of 15.45%. The business had revenue of $530.58 million during the quarter, compared to analysts’ expectations of $549.87 million. During the same period in the prior year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that Simpson Manufacturing Co., Inc. will post 8.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird boosted their price objective on Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th.

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.