Jackson Square Partners LLC Reduces Stake in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Jackson Square Partners LLC lessened its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 16.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 116,623 shares of the construction company’s stock after selling 23,325 shares during the quarter. Simpson Manufacturing comprises about 2.1% of Jackson Square Partners LLC’s holdings, making the stock its 27th biggest holding. Jackson Square Partners LLC’s holdings in Simpson Manufacturing were worth $19,340,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Riverbridge Partners LLC acquired a new stake in shares of Simpson Manufacturing in the 4th quarter valued at about $58,414,000. FMR LLC increased its position in shares of Simpson Manufacturing by 24.2% in the third quarter. FMR LLC now owns 1,710,358 shares of the construction company’s stock valued at $327,140,000 after buying an additional 333,390 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Simpson Manufacturing during the fourth quarter worth $54,644,000. EP Wealth Advisors LLC increased its stake in shares of Simpson Manufacturing by 1,020.1% during the 3rd quarter. EP Wealth Advisors LLC now owns 139,828 shares of the construction company’s stock valued at $26,745,000 after acquiring an additional 127,345 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Simpson Manufacturing in the 4th quarter valued at $15,603,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael Andersen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the completion of the transaction, the executive vice president now owns 8,810 shares of the company’s stock, valued at $1,497,523.80. This trade represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SSD has been the subject of several analyst reports. Robert W. Baird decreased their target price on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. DA Davidson lowered their price objective on shares of Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th.

Simpson Manufacturing Stock Performance

NYSE:SSD opened at $159.88 on Tuesday. Simpson Manufacturing Co., Inc. has a 1-year low of $152.74 and a 1-year high of $206.48. The stock has a market cap of $6.74 billion, a P/E ratio of 21.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.21 and a quick ratio of 1.59. The firm has a 50-day moving average of $165.37 and a two-hundred day moving average of $175.57.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. On average, research analysts expect that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. Simpson Manufacturing’s payout ratio is 14.74%.

Simpson Manufacturing Company 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.