Simpson Manufacturing Company, Inc. $SSD Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 6.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 304,024 shares of the construction company’s stock after selling 20,467 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Simpson Manufacturing were worth $52,003,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Simpson Manufacturing by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company’s stock worth $798,000 after buying an additional 1,726 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Simpson Manufacturing by 11.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company’s stock valued at $427,000 after purchasing an additional 286 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Simpson Manufacturing during the 1st quarter worth about $531,000. Goldman Sachs Group Inc. grew its holdings in shares of Simpson Manufacturing by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company’s stock worth $33,327,000 after purchasing an additional 64,114 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Simpson Manufacturing by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company’s stock worth $19,022,000 after purchasing an additional 12,865 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

SSD stock opened at $188.98 on Friday. 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 52-week low of $156.32 and a 52-week high of $213.49. The stock’s 50 day moving average is $191.90 and its two-hundred day moving average is $185.83. The company has a market capitalization of $7.77 billion, a PE ratio of 22.15 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.29. The company had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $1.85 EPS. 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 declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, July 2nd. Simpson Manufacturing’s payout ratio is 14.07%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SSD. Stifel Nicolaus lifted their target price on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird increased their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Stephens boosted their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, DA Davidson upped their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $214.75.

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.