Diversified Management Inc. Sells 4,946 Shares of Simpson Manufacturing Company, Inc. $SSD

Diversified Management Inc. cut its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 79.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,271 shares of the construction company’s stock after selling 4,946 shares during the quarter. Diversified Management Inc.’s holdings in Simpson Manufacturing were worth $266,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock worth $37,000 after acquiring an additional 57 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Simpson Manufacturing by 1.3% during the 4th quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock worth $796,000 after purchasing an additional 62 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in Simpson Manufacturing by 0.6% during the fourth quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock worth $1,981,000 after buying an additional 77 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Simpson Manufacturing by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock valued at $4,236,000 after acquiring an additional 89 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Stock Down 2.7%

SSD stock opened at $194.53 on Thursday. The firm has a market capitalization of $8.00 billion, a PE ratio of 21.26 and a beta of 1.31. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15. Simpson Manufacturing Company, Inc. has a twelve month low of $156.32 and a twelve month high of $213.49. The stock’s 50 day moving average is $194.25 and its 200-day moving average is $187.99.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.37. The business had revenue of $671.08 million during the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.Simpson Manufacturing’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 earnings per share. Sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be paid a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is presently 13.11%.

Analyst Ratings Changes

Several brokerages recently commented on SSD. Stephens increased their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research note on Tuesday, July 28th. Stifel Nicolaus increased their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. DA Davidson lifted their price objective on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $216.25.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.