JPMorgan Chase & Co. Reduces Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

JPMorgan Chase & Co. cut its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,766,643 shares of the construction company’s stock after selling 73,769 shares during the quarter. JPMorgan Chase & Co. owned about 4.19% of Simpson Manufacturing worth $337,906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors LLC purchased a new stake in Simpson Manufacturing in the 3rd quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Simpson Manufacturing in the third quarter worth $34,000. Prospera Private Wealth LLC bought a new stake in Simpson Manufacturing during the third quarter valued at $37,000. Millburn Ridgefield Corp purchased a new position in Simpson Manufacturing during the third quarter worth about $51,000. Finally, Huntington National Bank increased its stake in Simpson Manufacturing by 73.2% in the 3rd quarter. Huntington National Bank now owns 336 shares of the construction company’s stock worth $64,000 after acquiring an additional 142 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Roger Dankel sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $183.06, for a total value of $45,765.00. Following the completion of the sale, the executive vice president now owns 23,814 shares in the company, valued at approximately $4,359,390.84. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

Simpson Manufacturing Stock Performance

Shares of NYSE SSD opened at $166.78 on Monday. The stock’s 50-day moving average is $181.24 and its 200 day moving average is $180.31. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 22.03 and a beta of 1.32. Simpson Manufacturing Co., Inc. has a 1-year low of $157.42 and a 1-year high of $218.38. The company has a current ratio of 3.53, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, October 21st. The construction company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.19). Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The business had revenue of $587.15 million for the quarter, compared to analysts’ expectations of $589.00 million. During the same period last year, the business posted $2.43 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.55 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, January 2nd. Simpson Manufacturing’s dividend payout ratio is presently 14.80%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their target price on shares of Simpson Manufacturing from $202.00 to $218.00 and gave the company an “outperform” rating in a research report on Monday, October 21st.

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.