PineStone Asset Management Inc. Lowers Position in Simpson Manufacturing Company, Inc. $SSD

PineStone Asset Management Inc. decreased its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,610 shares of the construction company’s stock after selling 7,200 shares during the quarter. PineStone Asset Management Inc. owned about 0.12% of Simpson Manufacturing worth $8,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Burgundy Asset Management Ltd. boosted its holdings in shares of Simpson Manufacturing by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 693,775 shares of the construction company’s stock valued at $107,750,000 after purchasing an additional 20,240 shares during the last quarter. Northern Trust Corp grew its position in shares of Simpson Manufacturing by 1.4% during the third quarter. Northern Trust Corp now owns 555,211 shares of the construction company’s stock valued at $92,976,000 after purchasing an additional 7,552 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Simpson Manufacturing by 5.2% in the third quarter. First Trust Advisors LP now owns 541,149 shares of the construction company’s stock worth $90,621,000 after purchasing an additional 26,743 shares during the last quarter. Norges Bank bought a new stake in shares of Simpson Manufacturing in the second quarter worth about $77,528,000. Finally, Port Capital LLC lifted its position in shares of Simpson Manufacturing by 1.0% in the third quarter. Port Capital LLC now owns 406,210 shares of the construction company’s stock worth $68,024,000 after buying an additional 3,825 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $171.22 on Wednesday. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $211.98. The company has a current ratio of 3.54, a quick ratio of 1.99 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $186.55 and a 200-day moving average price of $176.73. The firm has a market capitalization of $7.05 billion, a PE ratio of 20.75 and a beta of 1.35.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The firm had revenue of $539.35 million during the quarter, compared to analysts’ expectations of $530.70 million. During the same period in the previous year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. Simpson Manufacturing’s dividend payout ratio is currently 14.06%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SSD. Stephens set a $200.00 price target on Simpson Manufacturing in a report on Tuesday, February 10th. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Robert W. Baird set a $222.00 target price on Simpson Manufacturing in a research report on Tuesday, February 10th. DA Davidson raised their target price on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Simpson Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $207.33.

Simpson Manufacturing Company Profile

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.