Wells Fargo & Company MN Cuts Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Wells Fargo & Company MN trimmed its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 560,020 shares of the construction company’s stock after selling 16,698 shares during the period. Wells Fargo & Company MN owned approximately 1.31% of Simpson Manufacturing worth $110,873,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in Simpson Manufacturing by 103.3% during the 4th quarter. Pacer Advisors Inc. now owns 10,145 shares of the construction company’s stock valued at $2,009,000 after purchasing an additional 5,154 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Simpson Manufacturing by 66.2% in the 4th quarter. M&T Bank Corp now owns 26,513 shares of the construction company’s stock worth $5,250,000 after buying an additional 10,564 shares during the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of Simpson Manufacturing by 12.3% in the 4th quarter. Anchor Capital Advisors LLC now owns 7,598 shares of the construction company’s stock worth $1,504,000 after buying an additional 830 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Simpson Manufacturing by 8.6% in the 4th quarter. QRG Capital Management Inc. now owns 6,384 shares of the construction company’s stock worth $1,264,000 after buying an additional 504 shares during the last quarter. Finally, Stansberry Asset Management LLC raised its holdings in Simpson Manufacturing by 19.5% in the 3rd quarter. Stansberry Asset Management LLC now owns 27,128 shares of the construction company’s stock worth $4,064,000 after purchasing an additional 4,422 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Simpson Manufacturing

In other news, EVP Phillip Burton sold 2,000 shares of Simpson Manufacturing stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the sale, the executive vice president now directly owns 4,044 shares of the company’s stock, valued at $854,861.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jennifer Lutz sold 750 shares of Simpson Manufacturing stock in a transaction dated 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 owns 5,033 shares in the company, valued at $861,347.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Phillip Burton sold 2,000 shares of Simpson Manufacturing stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the completion of the transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at approximately $854,861.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,600 shares of company stock valued at $1,069,763. 0.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Simpson Manufacturing Price Performance

NYSE:SSD opened at $172.34 on Thursday. Simpson Manufacturing Co., Inc. has a 52 week low of $117.08 and a 52 week high of $218.38. The company has a quick ratio of 2.19, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The business’s 50-day simple moving average is $185.32 and its two-hundred day simple moving average is $184.47. The stock has a market cap of $7.27 billion, a PE ratio of 21.60 and a beta of 1.33.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) 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 firm had revenue of $530.58 million during the quarter, compared to the consensus estimate of $549.87 million. During the same period last year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts forecast that Simpson Manufacturing Co., Inc. will post 8.44 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 4th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, July 3rd. Simpson Manufacturing’s payout ratio is 13.53%.

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.