Cynosure Group LLC Trims Stake in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Cynosure Group LLC lessened its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 55.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,010 shares of the construction company’s stock after selling 2,542 shares during the quarter. Cynosure Group LLC’s holdings in Simpson Manufacturing were worth $384,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its position in shares of Simpson Manufacturing by 76.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,343 shares of the construction company’s stock worth $686,000 after acquiring an additional 1,447 shares during the last quarter. US Bancorp DE boosted its stake in Simpson Manufacturing by 9.1% during the 3rd quarter. US Bancorp DE now owns 4,213 shares of the construction company’s stock worth $806,000 after purchasing an additional 352 shares during the period. International Assets Investment Management LLC grew its position in Simpson Manufacturing by 8,883.3% during the 3rd quarter. International Assets Investment Management LLC now owns 5,929 shares of the construction company’s stock worth $1,134,000 after purchasing an additional 5,863 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in Simpson Manufacturing in the third quarter valued at $16,060,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Simpson Manufacturing by 336.6% in the second quarter. The Manufacturers Life Insurance Company now owns 224,517 shares of the construction company’s stock valued at $37,838,000 after buying an additional 173,097 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $186.77 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.53 and a quick ratio of 1.99. The business has a 50 day simple moving average of $186.72 and a 200-day simple moving average of $178.64. Simpson Manufacturing Co., Inc. has a 12 month low of $157.42 and a 12 month high of $218.38. The stock has a market capitalization of $7.87 billion, a PE ratio of 24.67 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The firm had revenue of $587.15 million for the quarter, compared to analysts’ expectations of $589.00 million. Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 EPS. Equities analysts predict that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, January 2nd. Simpson Manufacturing’s dividend payout ratio is presently 14.80%.

Analysts Set New Price Targets

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

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.