Bank of America Corp DE Sells 3,970 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Bank of America Corp DE decreased its position in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,418 shares of the construction company’s stock after selling 3,970 shares during the quarter. Bank of America Corp DE’s holdings in Simpson Manufacturing were worth $34,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SSD. Norges Bank purchased a new position in shares of Simpson Manufacturing in the 4th quarter worth about $73,758,000. Riverbridge Partners LLC purchased a new position in shares of Simpson Manufacturing in the 4th quarter worth about $58,414,000. Raymond James Financial Inc. purchased a new position in shares of Simpson Manufacturing in the 4th quarter worth about $54,644,000. Ameriprise Financial Inc. boosted its holdings in shares of Simpson Manufacturing by 90.4% in the 4th quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company’s stock worth $96,405,000 after buying an additional 275,989 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in shares of Simpson Manufacturing by 300.2% in the 4th quarter. Champlain Investment Partners LLC now owns 336,051 shares of the construction company’s stock worth $55,727,000 after buying an additional 252,085 shares during the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Price Performance

NYSE SSD opened at $163.11 on Friday. The company has a market cap of $6.82 billion, a PE ratio of 21.46 and a beta of 1.34. Simpson Manufacturing Co., Inc. has a 52 week low of $137.35 and a 52 week high of $197.82. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $153.94 and its two-hundred day simple moving average is $166.57.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, April 28th. The construction company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $538.90 million for the quarter, compared to the consensus estimate of $531.81 million. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 earnings per share. Research analysts predict that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, July 3rd. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 0.71%. Simpson Manufacturing’s dividend payout ratio is currently 15.10%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SSD. Robert W. Baird cut their price target on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. DA Davidson dropped their price objective on shares of Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th.

Insider Activity

In related news, EVP Michael Andersen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total value of $169,980.00. Following the transaction, the executive vice president now directly owns 8,810 shares in the company, valued at approximately $1,497,523.80. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

About Simpson Manufacturing

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.