Granite Investment Partners LLC Sells 1,257 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Granite Investment Partners LLC decreased its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,169 shares of the construction company’s stock after selling 1,257 shares during the period. Granite Investment Partners LLC’s holdings in Simpson Manufacturing were worth $2,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC grew its holdings in Simpson Manufacturing by 4.2% during the 3rd quarter. HighTower Advisors LLC now owns 5,746 shares of the construction company’s stock valued at $1,101,000 after purchasing an additional 230 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Simpson Manufacturing during the third quarter valued at approximately $11,931,000. MML Investors Services LLC bought a new position in shares of Simpson Manufacturing during the third quarter valued at approximately $290,000. Barclays PLC raised its holdings in shares of Simpson Manufacturing by 42.0% in the third quarter. Barclays PLC now owns 24,179 shares of the construction company’s stock worth $4,624,000 after buying an additional 7,155 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Simpson Manufacturing by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 707,664 shares of the construction company’s stock worth $135,390,000 after acquiring an additional 7,351 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $149.80 on Monday. Simpson Manufacturing Co., Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The company has a market capitalization of $6.29 billion, a PE ratio of 19.71 and a beta of 1.33. The company has a 50 day moving average price of $160.29 and a 200-day moving average price of $172.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 3.21.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.74%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SSD shares. DA Davidson cut their price objective on Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird cut their price target on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th.

Insider Activity

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the sale, the executive vice president now owns 8,810 shares of the company’s stock, valued at approximately $1,497,523.80. This trade represents a 10.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

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.