Conestoga Capital Advisors LLC Sells 244,069 Shares of Simpson Manufacturing Company, Inc. $SSD

Conestoga Capital Advisors LLC decreased its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 28.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 605,281 shares of the construction company’s stock after selling 244,069 shares during the period. Simpson Manufacturing makes up approximately 2.1% of Conestoga Capital Advisors LLC’s holdings, making the stock its 22nd biggest position. Conestoga Capital Advisors LLC’s holdings in Simpson Manufacturing were worth $103,878,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SSD. Cooke & Bieler LP lifted its position in shares of Simpson Manufacturing by 77.9% during the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock valued at $20,940,000 after purchasing an additional 56,769 shares in the last quarter. Westview Management dba Westview Investment Advisors purchased a new stake in Simpson Manufacturing in the 4th quarter worth approximately $2,074,000. Comerica Bank raised its holdings in shares of Simpson Manufacturing by 21.6% in the 4th quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock valued at $19,921,000 after acquiring an additional 21,889 shares in the last quarter. SG Americas Securities LLC lifted its position in Simpson Manufacturing by 2,359.1% during the fourth quarter. SG Americas Securities LLC now owns 62,364 shares of the construction company’s stock valued at $10,070,000 after purchasing an additional 59,828 shares during the last quarter. Finally, Capital World Investors grew its stake in Simpson Manufacturing by 101.7% in the 3rd quarter. Capital World Investors now owns 172,813 shares of the construction company’s stock worth $28,939,000 after buying an additional 87,135 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Stock Down 2.6%

SSD opened at $203.82 on Thursday. Simpson Manufacturing Company, Inc. has a 12 month low of $156.32 and a 12 month high of $213.49. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $191.03 and its 200-day moving average price is $183.91. The company has a market cap of $8.38 billion, a P/E ratio of 23.89 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same period last year, the company earned $1.85 EPS. Simpson Manufacturing’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current year.

Simpson Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. Simpson Manufacturing’s payout ratio is currently 13.60%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SSD. Stephens increased their price target on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Robert W. Baird raised their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, DA Davidson lifted their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $214.75.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.