Federated Hermes Inc. Cuts Stake in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Federated Hermes Inc. reduced its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 312,191 shares of the construction company’s stock after selling 63,434 shares during the period. Federated Hermes Inc. owned approximately 0.73% of Simpson Manufacturing worth $61,808,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. 1832 Asset Management L.P. bought a new position in shares of Simpson Manufacturing during the first quarter valued at $27,000. Contravisory Investment Management Inc. bought a new position in shares of Simpson Manufacturing during the fourth quarter valued at $29,000. Quantbot Technologies LP bought a new position in shares of Simpson Manufacturing during the first quarter valued at $30,000. Arlington Trust Co LLC bought a new position in shares of Simpson Manufacturing during the third quarter valued at $31,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Simpson Manufacturing during the fourth quarter valued at $54,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Up 1.3 %

SSD stock opened at $184.37 on Friday. Simpson Manufacturing Co., Inc. has a fifty-two week low of $111.29 and a fifty-two week high of $218.38. The business’s 50-day moving average is $197.56 and its two-hundred day moving average is $178.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.11 and a current ratio of 3.63. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 22.32 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, February 5th. The construction company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Simpson Manufacturing had a net margin of 15.99% and a return on equity of 22.06%. The firm had revenue of $501.70 million during the quarter, compared to the consensus estimate of $482.98 million. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Simpson Manufacturing Co., Inc. will post 8.74 earnings per share for the current year.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Phillip Burton sold 2,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at $854,861.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Phillip Burton sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $211.39, for a total value of $422,780.00. Following the transaction, the executive vice president now owns 4,044 shares of the company’s stock, valued at $854,861.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Roger Dankel sold 850 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $184.16, for a total value of $156,536.00. Following the completion of the transaction, the executive vice president now directly owns 27,330 shares in the company, valued at approximately $5,033,092.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,634 shares of company stock valued at $927,460. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SSD. Robert W. Baird upped their price target on Simpson Manufacturing from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th.

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.