Berkeley Inc Cuts Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

Berkeley Inc lowered its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 10.0% during the 3rd quarter, Holdings Channel reports. The firm owned 38,032 shares of the construction company’s stock after selling 4,217 shares during the quarter. Simpson Manufacturing makes up about 2.1% of Berkeley Inc’s holdings, making the stock its 22nd biggest position. Berkeley Inc’s holdings in Simpson Manufacturing were worth $6,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SSD. EverSource Wealth Advisors LLC increased its holdings in shares of Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after purchasing an additional 92 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Simpson Manufacturing during the 2nd quarter valued at approximately $31,000. Steph & Co. bought a new stake in Simpson Manufacturing in the 2nd quarter worth approximately $53,000. Putney Financial Group LLC raised its holdings in shares of Simpson Manufacturing by 238.4% during the 2nd quarter. Putney Financial Group LLC now owns 379 shares of the construction company’s stock worth $59,000 after acquiring an additional 267 shares in the last quarter. Finally, Sprucegrove Investment Management Ltd. bought a new position in shares of Simpson Manufacturing during the 2nd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SSD shares. Weiss Ratings restated a “hold (c+)” rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. DA Davidson restated a “neutral” rating and issued a $190.00 target price on shares of Simpson Manufacturing in a report on Tuesday, October 28th. Finally, Robert W. Baird upped their target price on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Simpson Manufacturing has a consensus rating of “Hold” and a consensus target price of $201.00.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $183.80 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 1.88. The firm has a market capitalization of $7.62 billion, a P/E ratio of 22.39 and a beta of 1.37. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $197.82. The company’s 50-day moving average is $169.13 and its 200 day moving average is $174.54.

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

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 22nd. Shareholders of record on Friday, January 2nd will be paid a $0.29 dividend. The ex-dividend date is Friday, January 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.13%.

Insider Buying and Selling at Simpson Manufacturing

In other news, Director Philip E. Donaldson sold 2,375 shares of Simpson Manufacturing stock in a transaction on Friday, December 12th. The stock was sold at an average price of $168.16, for a total transaction of $399,380.00. Following the completion of the sale, the director directly owned 6,086 shares in the company, valued at approximately $1,023,421.76. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.39% of the company’s stock.

Simpson Manufacturing 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.