Stansberry Asset Management LLC Sells 404 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Stansberry Asset Management LLC cut its position in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,415 shares of the construction company’s stock after selling 404 shares during the quarter. Stansberry Asset Management LLC’s holdings in Simpson Manufacturing were worth $1,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSD. Tidal Investments LLC boosted its position in Simpson Manufacturing by 3.0% during the first quarter. Tidal Investments LLC now owns 3,748 shares of the construction company’s stock worth $769,000 after purchasing an additional 109 shares during the period. SG Americas Securities LLC boosted its position in Simpson Manufacturing by 389.7% during the second quarter. SG Americas Securities LLC now owns 6,161 shares of the construction company’s stock worth $1,038,000 after purchasing an additional 4,903 shares during the period. Curated Wealth Partners LLC boosted its position in Simpson Manufacturing by 181.2% during the second quarter. Curated Wealth Partners LLC now owns 4,953 shares of the construction company’s stock worth $835,000 after purchasing an additional 11,052 shares during the period. D.B. Root & Company LLC boosted its position in Simpson Manufacturing by 12.9% during the second quarter. D.B. Root & Company LLC now owns 6,701 shares of the construction company’s stock worth $1,129,000 after purchasing an additional 764 shares during the period. Finally, PineStone Asset Management Inc. lifted its holdings in shares of Simpson Manufacturing by 14.4% during the second quarter. PineStone Asset Management Inc. now owns 72,200 shares of the construction company’s stock worth $12,168,000 after buying an additional 9,100 shares in the last quarter. 93.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted their target price on Simpson Manufacturing from $202.00 to $218.00 and gave the stock an “outperform” rating in a report on Monday, October 21st.

Simpson Manufacturing Stock Down 0.9 %

SSD stock opened at $183.36 on Thursday. The company has a market cap of $7.73 billion, a PE ratio of 24.22 and a beta of 1.32. The business has a 50-day simple moving average of $186.28 and a 200 day simple moving average of $179.07. Simpson Manufacturing Co., Inc. has a 52 week low of $157.42 and a 52 week high of $218.38. The company has a quick ratio of 1.99, a current ratio of 3.53 and a debt-to-equity ratio of 0.24.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, October 21st. The construction company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.19). The business had revenue of $587.15 million for the quarter, compared to analyst estimates of $589.00 million. Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.43 EPS. Sell-side analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.55 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, January 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 14.80%.

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.