Bank of New York Mellon Corp Reduces Stake in Simpson Manufacturing Company, Inc. $SSD

Bank of New York Mellon Corp lessened its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 329,833 shares of the construction company’s stock after selling 13,666 shares during the period. Bank of New York Mellon Corp’s holdings in Simpson Manufacturing were worth $51,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in shares of Simpson Manufacturing by 13.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 25,204 shares of the construction company’s stock valued at $3,914,000 after buying an additional 2,975 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Simpson Manufacturing by 11.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,824 shares of the construction company’s stock valued at $286,000 after acquiring an additional 181 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Simpson Manufacturing during the second quarter worth about $314,000. Vancity Investment Management Ltd acquired a new stake in shares of Simpson Manufacturing during the first quarter worth about $807,000. Finally, Vest Financial LLC increased its position in shares of Simpson Manufacturing by 74.2% during the second quarter. Vest Financial LLC now owns 24,826 shares of the construction company’s stock worth $3,856,000 after purchasing an additional 10,571 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $167.84 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 1.80. The business has a 50 day simple moving average of $176.94 and a 200-day simple moving average of $170.46. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82. The stock has a market capitalization of $6.99 billion, a PE ratio of 20.44 and a beta of 1.27.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, October 27th. The construction company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.21. Simpson Manufacturing had a net margin of 14.90% and a return on equity of 18.11%. The company had revenue of $623.51 million for the quarter, compared to analysts’ expectations of $607.79 million. During the same period in the previous year, the company posted $2.21 EPS. Simpson Manufacturing’s revenue was up 6.2% compared to the same quarter last year. Equities analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 22nd. Investors of record on Friday, January 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, January 2nd. Simpson Manufacturing’s dividend payout ratio is currently 14.13%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. DA Davidson restated a “neutral” rating and set a $190.00 price target on shares of Simpson Manufacturing in a research note on Tuesday, October 28th. Robert W. Baird increased their price objective on Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $201.00.

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the sale, the executive vice president owned 7,810 shares of the company’s stock, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.

About Simpson Manufacturing

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.