Simpson Manufacturing Co., Inc. (NYSE:SSD) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. trimmed its position in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 153,741 shares of the construction company’s stock after selling 8,577 shares during the quarter. Simpson Manufacturing makes up 3.3% of Cornerstone Capital Inc.’s portfolio, making the stock its 8th biggest position. Cornerstone Capital Inc. owned 0.36% of Simpson Manufacturing worth $30,438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. grew its position in shares of Simpson Manufacturing by 1.1% during the 4th quarter. Xponance Inc. now owns 6,216 shares of the construction company’s stock worth $1,231,000 after buying an additional 67 shares during the period. Signaturefd LLC grew its position in shares of Simpson Manufacturing by 36.1% during the 3rd quarter. Signaturefd LLC now owns 415 shares of the construction company’s stock worth $62,000 after buying an additional 110 shares during the period. Cerity Partners LLC grew its position in shares of Simpson Manufacturing by 1.5% during the 4th quarter. Cerity Partners LLC now owns 7,662 shares of the construction company’s stock worth $1,517,000 after buying an additional 112 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of Simpson Manufacturing by 19.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 801 shares of the construction company’s stock worth $120,000 after buying an additional 132 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Simpson Manufacturing during the 4th quarter worth about $29,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SSD. Robert W. Baird boosted their target price on Simpson Manufacturing from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating in a research report on Wednesday.

Simpson Manufacturing Price Performance

Shares of SSD opened at $173.61 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.11 and a current ratio of 3.77. The stock has a 50 day simple moving average of $195.70 and a 200 day simple moving average of $179.30. Simpson Manufacturing Co., Inc. has a 52-week low of $117.08 and a 52-week high of $218.38. The firm has a market capitalization of $7.37 billion, a PE ratio of 21.76 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, April 22nd. The construction company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.07). Simpson Manufacturing had a net margin of 15.45% and a return on equity of 20.51%. The business had revenue of $530.58 million during the quarter, compared to analyst estimates of $549.87 million. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Simpson Manufacturing’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts predict that Simpson Manufacturing Co., Inc. will post 8.44 EPS for the current fiscal year.

Insider Activity at Simpson Manufacturing

In related news, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the completion of the transaction, the director now directly owns 14,638 shares in the company, valued at approximately $2,817,522.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Simpson Manufacturing news, Director Jennifer Chatman sold 934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $192.48, for a total value of $179,776.32. Following the sale, the director now owns 14,638 shares in the company, valued at approximately $2,817,522.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Phillip Burton sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $211.39, for a total value of $422,780.00. Following the completion of the sale, the executive vice president now owns 4,044 shares in the company, valued at approximately $854,861.16. The disclosure for this sale can be found here. In the last three months, insiders sold 3,784 shares of company stock worth $770,924. 0.42% of the stock is owned by company insiders.

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.