Dimensional Fund Advisors LP lowered its position in shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) by 4.9% in the third quarter, HoldingsChannel.com reports. The fund owned 1,700,983 shares of the construction company’s stock after selling 87,254 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Simpson Manufacturing were worth $123,253,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Simpson Manufacturing by 6.4% in the 2nd quarter. BlackRock Inc. now owns 5,996,211 shares of the construction company’s stock valued at $372,905,000 after buying an additional 358,754 shares during the period. Atlanta Capital Management Co. L L C acquired a new position in shares of Simpson Manufacturing in the 3rd quarter valued at about $23,096,000. Victory Capital Management Inc. lifted its holdings in shares of Simpson Manufacturing by 54.1% in the 2nd quarter. Victory Capital Management Inc. now owns 546,939 shares of the construction company’s stock valued at $34,014,000 after buying an additional 192,024 shares during the period. FMR LLC lifted its holdings in shares of Simpson Manufacturing by 28.3% in the 2nd quarter. FMR LLC now owns 821,000 shares of the construction company’s stock valued at $51,058,000 after buying an additional 180,900 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Simpson Manufacturing by 12.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,581,452 shares of the construction company’s stock valued at $114,592,000 after buying an additional 170,285 shares during the period. 88.81% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on SSD. Zacks Investment Research raised Simpson Manufacturing from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. ValuEngine cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Robert W. Baird cut Simpson Manufacturing from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $72.00 in a report on Monday, October 15th. Finally, Sidoti boosted their price objective on Simpson Manufacturing from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, August 10th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Simpson Manufacturing presently has an average rating of “Hold” and an average price target of $74.00.
Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, October 29th. The construction company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $284.18 million during the quarter, compared to analysts’ expectations of $296.80 million. Simpson Manufacturing had a return on equity of 14.43% and a net margin of 11.88%. Simpson Manufacturing’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Analysts forecast that Simpson Manufacturing Co, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Thursday, January 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, January 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.59%. Simpson Manufacturing’s payout ratio is 44.44%.
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Simpson Manufacturing Company Profile
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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