Geode Capital Management LLC Sells 3,684 Shares of Simpson Manufacturing Company, Inc. $SSD

Geode Capital Management LLC lessened its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 745,435 shares of the construction company’s stock after selling 3,684 shares during the period. Geode Capital Management LLC’s holdings in Simpson Manufacturing were worth $115,792,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in shares of Simpson Manufacturing in the second quarter worth about $31,000. CWM LLC raised its stake in Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company’s stock worth $52,000 after acquiring an additional 93 shares during the period. Steph & Co. purchased a new position in Simpson Manufacturing during the second quarter valued at approximately $53,000. Putney Financial Group LLC boosted its position in shares of Simpson Manufacturing by 238.4% in the second quarter. Putney Financial Group LLC now owns 379 shares of the construction company’s stock worth $59,000 after purchasing an additional 267 shares during the period. Finally, Sprucegrove Investment Management Ltd. purchased a new stake in shares of Simpson Manufacturing in the second quarter worth $62,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

NYSE SSD opened at $159.00 on Thursday. The business’s 50 day moving average price is $173.35 and its 200-day moving average price is $170.68. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The company has a market cap of $6.59 billion, a P/E ratio of 19.37 and a beta of 1.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.80 and a current ratio of 3.35.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, October 27th. The construction company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.37 by $0.21. The company had revenue of $623.51 million for the quarter, compared to the consensus estimate of $607.79 million. Simpson Manufacturing had a net margin of 14.90% and a return on equity of 18.11%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. Sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 22nd. Investors of record on Friday, January 2nd will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, January 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.7%. Simpson Manufacturing’s payout ratio is presently 14.13%.

Analyst Ratings Changes

A number of research firms recently weighed in on SSD. Robert W. Baird lifted their target price on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. Finally, DA Davidson reissued a “neutral” rating and issued a $190.00 price target on shares of Simpson Manufacturing in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $201.00.

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the sale, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. This trade represents a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

Simpson Manufacturing 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.