Simpson Manufacturing Company, Inc. $SSD Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC trimmed its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 18.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 307,209 shares of the construction company’s stock after selling 70,132 shares during the quarter. Simpson Manufacturing accounts for approximately 1.6% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 24th largest holding. Conestoga Capital Advisors LLC owned approximately 0.75% of Simpson Manufacturing worth $52,496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SSD. Provenance Wealth Advisors LLC bought a new stake in shares of Simpson Manufacturing in the 3rd quarter valued at about $203,000. Putney Financial Group LLC acquired a new stake in Simpson Manufacturing in the third quarter valued at approximately $31,000. Vise Technologies Inc. grew its holdings in Simpson Manufacturing by 25.1% in the third quarter. Vise Technologies Inc. now owns 5,004 shares of the construction company’s stock worth $855,000 after purchasing an additional 1,005 shares during the last quarter. MGO One Seven LLC grew its holdings in Simpson Manufacturing by 9.0% in the third quarter. MGO One Seven LLC now owns 9,875 shares of the construction company’s stock worth $1,687,000 after purchasing an additional 814 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Simpson Manufacturing by 340.7% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 11,900 shares of the construction company’s stock worth $2,033,000 after purchasing an additional 9,200 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Insider Activity

In other news, CEO Michael Olosky sold 3,502 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total value of $605,285.68. Following the sale, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at approximately $8,883,630.32. The trade was a 6.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Simpson Manufacturing Price Performance

NYSE:SSD opened at $205.75 on Thursday. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49. The company has a quick ratio of 2.20, a current ratio of 3.37 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $8.46 billion, a P/E ratio of 22.24 and a beta of 1.35. The stock’s fifty day moving average is $178.86 and its two-hundred day moving average is $185.70.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, October 26th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.24. The firm had revenue of $638.13 million during the quarter, compared to the consensus estimate of $624.39 million. Simpson Manufacturing had a return on equity of 18.23% and a net margin of 15.62%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $2.58 EPS. Equities analysts expect that Simpson Manufacturing Company, Inc. will post 9.34 EPS for the current year.

Simpson Manufacturing announced that its board has authorized a stock buyback plan on Monday, October 26th that authorizes the company to repurchase $1 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 13.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 28th. Shareholders of record on Thursday, January 7th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, January 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 12.97%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Simpson Manufacturing in a report on Thursday, October 22nd. DA Davidson lowered their target price on shares of Simpson Manufacturing from $212.00 to $203.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 27th. Stifel Nicolaus dropped their price target on shares of Simpson Manufacturing from $218.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Stephens lowered their price objective on Simpson Manufacturing from $215.00 to $205.00 and set a “cautious” rating on the stock in a report on Tuesday, October 27th. Finally, UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $207.00.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications ranging from new construction to repair, remodeling and retrofit projects.

The company is best known for its Simpson Strong-Tie brand, which offers structural connectors, fasteners, anchors, specialty products, adhesives and related installation systems.