Kayne Anderson Rudnick Investment Management LLC Lowers Stock Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Kayne Anderson Rudnick Investment Management LLC lessened its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 2.2% in the fourth quarter, HoldingsChannel reports. The fund owned 4,494,263 shares of the construction company’s stock after selling 102,692 shares during the period. Simpson Manufacturing accounts for approximately 1.7% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 8th largest holding. Kayne Anderson Rudnick Investment Management LLC owned 0.11% of Simpson Manufacturing worth $745,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Simpson Manufacturing by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,204,871 shares of the construction company’s stock worth $697,294,000 after purchasing an additional 31,164 shares during the period. Geode Capital Management LLC raised its holdings in Simpson Manufacturing by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 710,166 shares of the construction company’s stock valued at $117,804,000 after acquiring an additional 2,502 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Simpson Manufacturing by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 490,585 shares of the construction company’s stock valued at $81,354,000 after acquiring an additional 3,467 shares during the period. Norges Bank acquired a new stake in shares of Simpson Manufacturing during the 4th quarter worth $73,758,000. Finally, Federated Hermes Inc. raised its stake in Simpson Manufacturing by 17.6% in the fourth quarter. Federated Hermes Inc. now owns 378,094 shares of the construction company’s stock valued at $62,699,000 after purchasing an additional 56,670 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

SSD stock opened at $147.28 on Friday. Simpson Manufacturing Co., Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. 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 stock has a market cap of $6.18 billion, a price-to-earnings ratio of 19.38 and a beta of 1.33. The company has a 50 day simple moving average of $158.36 and a 200 day simple moving average of $170.73.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 earnings per share for the quarter, beating 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%. Research analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio is currently 14.74%.

Insiders Place Their Bets

In other news, EVP Michael Andersen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the completion of the transaction, the executive vice president now directly owns 8,810 shares in the company, valued at $1,497,523.80. This trade represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

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

Simpson Manufacturing Company Profile

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.