PNC Financial Services Group Inc. lessened its holdings in shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,476 shares of the construction company’s stock after selling 2,034 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.28% of Simpson Manufacturing worth $9,238,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its stake in Simpson Manufacturing by 6.4% in the second quarter. BlackRock Inc. now owns 5,996,211 shares of the construction company’s stock worth $372,905,000 after purchasing an additional 358,754 shares during the period. Conestoga Capital Advisors LLC grew its stake in Simpson Manufacturing by 12.1% in the third quarter. Conestoga Capital Advisors LLC now owns 1,581,452 shares of the construction company’s stock worth $114,592,000 after purchasing an additional 170,285 shares during the period. Northern Trust Corp grew its stake in Simpson Manufacturing by 2.1% in the second quarter. Northern Trust Corp now owns 1,295,424 shares of the construction company’s stock worth $80,562,000 after purchasing an additional 27,040 shares during the period. Brown Advisory Inc. grew its stake in Simpson Manufacturing by 0.3% in the second quarter. Brown Advisory Inc. now owns 1,018,883 shares of the construction company’s stock worth $63,364,000 after purchasing an additional 3,217 shares during the period. Finally, FMR LLC grew its stake in Simpson Manufacturing by 28.3% in the second quarter. FMR LLC now owns 821,000 shares of the construction company’s stock worth $51,058,000 after purchasing an additional 180,900 shares during the period. Institutional investors own 88.66% of the company’s stock.
SSD has been the topic of several recent research reports. Sidoti upped their price target on Simpson Manufacturing from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Robert W. Baird cut Simpson Manufacturing from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $75.00 to $72.00 in a research note on Monday, October 15th. Zacks Investment Research cut Simpson Manufacturing from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Finally, ValuEngine cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Simpson Manufacturing has a consensus rating of “Hold” and a consensus price target of $74.00.
Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, October 29th. The construction company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Simpson Manufacturing had a return on equity of 14.43% and a net margin of 11.88%. The firm had revenue of $284.18 million for the quarter, compared to analysts’ expectations of $296.80 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts predict that Simpson Manufacturing Co, Inc. will post 3.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 24th. Stockholders of record on Thursday, January 3rd will be paid 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 dividend yield of 1.50%. Simpson Manufacturing’s dividend payout ratio is currently 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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