Franklin Resources Inc. reduced its position in Simpson Manufacturing Co, Inc. (NYSE:SSD) by 10.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,655,456 shares of the construction company’s stock after selling 302,593 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of Simpson Manufacturing worth $152,449,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in Simpson Manufacturing during the 3rd quarter valued at about $103,000. Renaissance Technologies LLC purchased a new stake in Simpson Manufacturing during the 4th quarter valued at about $207,000. Shelton Capital Management purchased a new stake in Simpson Manufacturing during the 4th quarter valued at about $209,000. Everence Capital Management Inc. purchased a new stake in Simpson Manufacturing during the 4th quarter valued at about $229,000. Finally, Neuberger Berman Group LLC purchased a new stake in Simpson Manufacturing during the 3rd quarter valued at about $230,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.
SSD has been the subject of several analyst reports. Sidoti initiated coverage on Simpson Manufacturing in a report on Wednesday, January 3rd. They set a “neutral” rating and a $66.00 target price for the company. Zacks Investment Research upgraded Simpson Manufacturing from a “sell” rating to a “buy” rating and set a $65.00 target price for the company in a report on Friday, February 9th. Robert W. Baird restated a “buy” rating and set a $64.00 target price on shares of Simpson Manufacturing in a report on Tuesday, January 9th. Finally, DA Davidson cut Simpson Manufacturing from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a report on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Simpson Manufacturing currently has an average rating of “Hold” and a consensus target price of $63.75.
Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings results on Monday, February 5th. The construction company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.10). The business had revenue of $231.68 million for the quarter, compared to the consensus estimate of $224.47 million. Simpson Manufacturing had a net margin of 9.48% and a return on equity of 9.64%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. equities analysts predict that Simpson Manufacturing Co, Inc. will post 2.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 26th. Shareholders of record on Thursday, April 5th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, April 4th. Simpson Manufacturing’s payout ratio is 43.52%.
In other Simpson Manufacturing news, major shareholder Sharon H. Simpson sold 93,605 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $59.87, for a total transaction of $5,604,131.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sharon H. Simpson sold 30,374 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.78, for a total value of $1,755,009.72. The disclosure for this sale can be found here. Insiders have sold a total of 814,153 shares of company stock valued at $47,817,333 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.
Simpson Manufacturing Company Profile
Simpson Manufacturing Co, Inc, through its subsidiary, Simpson Strong-Tie Company Inc (SST), designs, engineers and manufactures wood construction products, including connectors, truss plates, fastening systems, fasteners and pre-fabricated lateral systems used in light-frame construction. The Company’s segments are North America, Europe, Asia/Pacific, and Administrative & All Other.
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