iA Global Asset Management Inc. Trims Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

iA Global Asset Management Inc. cut its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 8.2% in the first quarter, Holdings Channel.com reports. The fund owned 2,632 shares of the construction company’s stock after selling 235 shares during the period. iA Global Asset Management Inc.’s holdings in Simpson Manufacturing were worth $540,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SSD. EntryPoint Capital LLC acquired a new stake in shares of Simpson Manufacturing during the first quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in shares of Simpson Manufacturing during the fourth quarter valued at about $35,000. Headlands Technologies LLC acquired a new stake in shares of Simpson Manufacturing during the fourth quarter valued at about $37,000. Rise Advisors LLC acquired a new stake in shares of Simpson Manufacturing during the first quarter valued at about $37,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Simpson Manufacturing by 550.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 221 shares of the construction company’s stock valued at $45,000 after acquiring an additional 187 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Simpson Manufacturing

In other news, EVP Jennifer Lutz sold 750 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $171.14, for a total transaction of $128,355.00. Following the transaction, the executive vice president now directly owns 5,033 shares in the company, valued at approximately $861,347.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Jennifer Lutz sold 750 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $171.14, for a total value of $128,355.00. Following the transaction, the executive vice president now owns 5,033 shares in the company, valued at $861,347.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Roger Dankel sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $175.13, for a total transaction of $350,260.00. Following the completion of the transaction, the executive vice president now owns 26,764 shares in the company, valued at approximately $4,687,179.32. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock traded down $8.43 during trading hours on Friday, reaching $176.27. 148,479 shares of the stock were exchanged, compared to its average volume of 311,753. The stock has a market cap of $7.43 billion, a P/E ratio of 23.15 and a beta of 1.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.21 and a current ratio of 3.69. Simpson Manufacturing Co., Inc. has a 52-week low of $123.93 and a 52-week high of $218.38. The firm’s 50 day moving average is $172.33 and its 200 day moving average is $183.16.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, July 22nd. The construction company reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.13). The business had revenue of $596.98 million during the quarter, compared to analyst estimates of $604.67 million. Simpson Manufacturing had a net margin of 15.03% and a return on equity of 19.42%. Simpson Manufacturing’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. Analysts predict that Simpson Manufacturing Co., Inc. will post 8.1 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. Simpson Manufacturing’s payout ratio is currently 14.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. StockNews.com downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.