Conestoga Capital Advisors LLC Sells 244,069 Shares of Simpson Manufacturing Company, Inc. $SSD

Conestoga Capital Advisors LLC lessened its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 28.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 605,281 shares of the construction company’s stock after selling 244,069 shares during the quarter. Simpson Manufacturing accounts for approximately 2.1% of Conestoga Capital Advisors LLC’s holdings, making the stock its 22nd biggest holding. Conestoga Capital Advisors LLC owned approximately 1.47% of Simpson Manufacturing worth $103,878,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 92 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Simpson Manufacturing in the 4th quarter worth approximately $28,000. Los Angeles Capital Management LLC bought a new stake in Simpson Manufacturing during the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. bought a new stake in Simpson Manufacturing during the 3rd quarter worth approximately $34,000. Finally, Smartleaf Asset Management LLC increased its holdings in Simpson Manufacturing by 33.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

Shares of NYSE SSD opened at $203.82 on Thursday. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 23.89 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The business has a 50-day moving average of $191.03 and a 200-day moving average of $183.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business had revenue of $587.96 million for the quarter, compared to analysts’ expectations of $550.08 million. During the same quarter in the prior year, the business earned $1.85 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, July 2nd. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is currently 13.60%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SSD. Stephens raised 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 report on Tuesday, April 28th. DA Davidson increased their price target 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. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus upped their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $214.75.

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.