Simpson Manufacturing Company, Inc. $SSD Stock Position Decreased by Conestoga Capital Advisors LLC

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

A number of other hedge funds also recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its holdings in Simpson Manufacturing by 3.8% in the second quarter. NewEdge Advisors LLC now owns 1,679 shares of the construction company’s stock valued at $351,000 after purchasing an additional 62 shares during the period. Mirador Capital Partners LP grew its stake in Simpson Manufacturing by 0.9% during the 3rd quarter. Mirador Capital Partners LP now owns 7,466 shares of the construction company’s stock worth $1,276,000 after purchasing an additional 66 shares in the last quarter. HB Wealth Management LLC increased its holdings in Simpson Manufacturing by 6.0% during the 2nd quarter. HB Wealth Management LLC now owns 1,598 shares of the construction company’s stock worth $335,000 after purchasing an additional 90 shares during the period. Swiss Life Asset Management Ltd increased its holdings in Simpson Manufacturing by 4.0% during the 2nd quarter. Swiss Life Asset Management Ltd now owns 2,505 shares of the construction company’s stock worth $524,000 after purchasing an additional 96 shares during the period. Finally, State of Michigan Retirement System raised its position in Simpson Manufacturing by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 9,927 shares of the construction company’s stock valued at $1,704,000 after purchasing an additional 100 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Simpson Manufacturing

In related news, CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total transaction of $605,285.68. Following the sale, the chief executive officer directly owned 51,398 shares in the company, valued at $8,883,630.32. This trade represents a 6.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $205.75 on Thursday. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 22.24 and a beta of 1.35. 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 stock has a 50 day moving average price of $178.86 and a 200 day moving average price of $185.70.

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

Simpson Manufacturing Announces Dividend

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

Simpson Manufacturing declared that its board has initiated a stock repurchase plan on Monday, October 26th that authorizes the company to repurchase $1 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 13.2% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

About Simpson Manufacturing

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.