Baker Avenue Asset Management LP Sells 149,806 Shares of Simpson Manufacturing Company, Inc. $SSD

Baker Avenue Asset Management LP trimmed its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 13.7% during the fourth quarter, HoldingsChannel reports. The fund owned 941,123 shares of the construction company’s stock after selling 149,806 shares during the period. Simpson Manufacturing comprises about 3.5% of Baker Avenue Asset Management LP’s investment portfolio, making the stock its 3rd largest position. Baker Avenue Asset Management LP’s holdings in Simpson Manufacturing were worth $151,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after acquiring an additional 92 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Simpson Manufacturing by 322.5% during the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock worth $28,000 after acquiring an additional 129 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Simpson Manufacturing during the fourth quarter worth $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Simpson Manufacturing during the third quarter worth $34,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Simpson Manufacturing by 98.0% during the third quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company’s stock worth $49,000 after acquiring an additional 144 shares during the period. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on SSD. DA Davidson lifted 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. Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Stifel Nicolaus lifted their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Robert W. Baird lifted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $214.75.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $190.95 on Thursday. The firm has a 50-day moving average of $179.41 and a 200-day moving average of $178.69. Simpson Manufacturing Company, Inc. has a one year low of $151.38 and a one year high of $211.98. The company has a market cap of $7.86 billion, a PE ratio of 22.39 and a beta of 1.34. 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 announced its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $550.08 million. During the same quarter last year, the firm posted $1.85 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Simpson Manufacturing Company, Inc. will post 9.18 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be given a $0.30 dividend. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing’s 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.