Allspring Global Investments Holdings LLC Sells 6,456 Shares of Simpson Manufacturing Company, Inc. $SSD

Allspring Global Investments Holdings LLC cut its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,491 shares of the construction company’s stock after selling 6,456 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Simpson Manufacturing were worth $53,450,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SSD. EverSource Wealth Advisors LLC increased its position in 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 buying an additional 92 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Simpson Manufacturing by 322.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after buying an additional 129 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Simpson Manufacturing during the 3rd quarter valued at approximately $34,000. Hantz Financial Services Inc. grew its stake in shares of Simpson Manufacturing by 98.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company’s stock valued at $49,000 after acquiring an additional 144 shares during the period. Finally, Allworth Financial LP increased its holdings in Simpson Manufacturing by 40.3% in the 3rd quarter. Allworth Financial LP now owns 331 shares of the construction company’s stock worth $55,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Simpson Manufacturing Stock Down 0.2%

NYSE SSD opened at $171.22 on Thursday. 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 stock has a market cap of $7.05 billion, a PE ratio of 20.75 and a beta of 1.37. The stock’s 50 day moving average is $186.23 and its 200 day moving average is $176.69.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, February 9th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $539.35 million during the quarter, compared to analyst estimates of $530.70 million. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. Research analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

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

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.