Granite Investment Partners LLC Sells 1,257 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Granite Investment Partners LLC trimmed its position in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,169 shares of the construction company’s stock after selling 1,257 shares during the period. Granite Investment Partners LLC’s holdings in Simpson Manufacturing were worth $2,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SSD. Norges Bank purchased a new stake in Simpson Manufacturing in the fourth quarter valued at about $73,758,000. Riverbridge Partners LLC purchased a new position in shares of Simpson Manufacturing in the 4th quarter valued at approximately $58,414,000. Raymond James Financial Inc. acquired a new stake in Simpson Manufacturing in the 4th quarter worth approximately $54,644,000. Wealthfront Advisers LLC purchased a new stake in Simpson Manufacturing during the 4th quarter worth approximately $15,603,000. Finally, Janney Montgomery Scott LLC increased its stake in Simpson Manufacturing by 1,473.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 80,262 shares of the construction company’s stock valued at $13,310,000 after purchasing an additional 75,162 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. DA Davidson dropped their price objective on shares of Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Robert W. Baird reduced their price objective on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total value of $169,980.00. Following the completion of the transaction, the executive vice president now owns 8,810 shares in the company, valued at approximately $1,497,523.80. This represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.

Simpson Manufacturing Stock Up 1.3 %

SSD stock opened at $149.80 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.21 and a quick ratio of 1.59. The firm’s fifty day simple moving average is $160.29 and its 200-day simple moving average is $172.09. Simpson Manufacturing Co., Inc. has a 12 month low of $137.35 and a 12 month high of $197.82. The company has a market capitalization of $6.29 billion, a P/E ratio of 19.71 and a beta of 1.33.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.04. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. As a group, equities research analysts forecast that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.12 annualized dividend and a yield of 0.75%. Simpson Manufacturing’s dividend payout ratio is presently 14.74%.

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.