Truist Financial Corp Sells 11,389 Shares of Simpson Manufacturing Company, Inc. $SSD

Truist Financial Corp decreased its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 66.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,821 shares of the construction company’s stock after selling 11,389 shares during the quarter. Truist Financial Corp’s holdings in Simpson Manufacturing were worth $940,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Simpson Manufacturing by 135.3% during the 2nd 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. Smartleaf Asset Management LLC raised its holdings in Simpson Manufacturing by 322.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock worth $28,000 after purchasing an additional 129 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Simpson Manufacturing during the 4th quarter worth approximately $28,000. Brown Brothers Harriman & Co. bought a new position in Simpson Manufacturing during the 3rd quarter worth approximately $34,000. Finally, Hantz Financial Services Inc. raised its holdings in Simpson Manufacturing by 98.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company’s stock worth $49,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on SSD shares. Stifel Nicolaus raised their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Stephens lifted their price objective on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. DA Davidson lifted their price objective on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $214.75.

Simpson Manufacturing Stock Performance

NYSE:SSD opened at $178.50 on Friday. The company has a fifty day moving average of $178.92 and a 200-day moving average of $178.13. The firm has a market capitalization of $7.34 billion, a P/E ratio of 20.93 and a beta of 1.34. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. Simpson Manufacturing Company, Inc. has a twelve month low of $151.38 and a twelve month high of $211.98.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The company had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. During the same quarter in the previous year, the business posted $1.85 EPS. Simpson Manufacturing’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.18 EPS for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.30 per share. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio is 13.60%.

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.