M&T Bank Corp Sells 11,101 Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD)

M&T Bank Corp trimmed its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 40.4% during the 1st quarter, Holdings Channel reports. The fund owned 16,394 shares of the construction company’s stock after selling 11,101 shares during the period. M&T Bank Corp’s holdings in Simpson Manufacturing were worth $2,575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SSD. Quarry LP bought a new position in Simpson Manufacturing during the 4th quarter worth about $28,000. Investment Management Corp VA ADV bought a new position in Simpson Manufacturing during the 4th quarter worth about $28,000. Harbor Capital Advisors Inc. bought a new position in Simpson Manufacturing during the 1st quarter worth about $45,000. Blue Trust Inc. grew its holdings in Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company’s stock worth $55,000 after acquiring an additional 321 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Simpson Manufacturing by 1,542.3% during the 4th quarter. Jones Financial Companies Lllp now owns 427 shares of the construction company’s stock worth $71,000 after acquiring an additional 401 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Stock Down 0.6%

NYSE:SSD opened at $167.01 on Friday. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The stock has a market capitalization of $6.99 billion, a P/E ratio of 21.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.54 and a current ratio of 3.17. The company’s 50-day simple moving average is $158.56 and its 200-day simple moving average is $159.85.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, April 28th. The construction company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Simpson Manufacturing had a net margin of 14.49% and a return on equity of 17.80%. The business had revenue of $538.90 million for the quarter, compared to analysts’ expectations of $531.81 million. During the same period last year, the business earned $1.77 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd will be issued a $0.29 dividend. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, July 3rd. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 15.10%.

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.