Strs Ohio Trims Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

Strs Ohio decreased its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 88.2% in the third quarter, Holdings Channel.com reports. The firm owned 1,002 shares of the construction company’s stock after selling 7,487 shares during the quarter. Strs Ohio’s holdings in Simpson Manufacturing were worth $168,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SSD. EverSource Wealth Advisors LLC grew its position in shares of Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after buying an additional 92 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Simpson Manufacturing in the second quarter worth about $31,000. Putney Financial Group LLC grew its holdings in 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. Sprucegrove Investment Management Ltd. purchased a new position in shares of Simpson Manufacturing during the second quarter valued at approximately $62,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Simpson Manufacturing by 50.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 548 shares of the construction company’s stock worth $85,000 after purchasing an additional 184 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SSD. Robert W. Baird raised their price objective on Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Simpson Manufacturing in a research note on Wednesday, January 21st. Finally, DA Davidson set a $190.00 price target on Simpson Manufacturing in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Simpson Manufacturing currently has a consensus rating of “Hold” and an average target price of $201.00.

Insiders Place Their Bets

In related news, Director Philip E. Donaldson sold 2,375 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $168.16, for a total value of $399,380.00. Following the sale, the director 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by company insiders.

Simpson Manufacturing Stock Up 1.8%

SSD stock opened at $182.89 on Wednesday. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $197.82. The business has a fifty day moving average price of $172.92 and a 200-day moving average price of $175.86. 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 stock has a market capitalization of $7.58 billion, a P/E ratio of 22.28 and a beta of 1.37.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, April 2nd. Simpson Manufacturing’s payout ratio is presently 14.13%.

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.