Simpson Manufacturing Co., Inc. (NYSE:SSD) Stock Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System decreased its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 8.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 70,672 shares of the construction company’s stock after selling 6,901 shares during the quarter. California Public Employees Retirement System’s holdings in Simpson Manufacturing were worth $11,720,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SSD. Norges Bank purchased a new stake in shares of Simpson Manufacturing during the fourth quarter worth $73,758,000. Riverbridge Partners LLC acquired a new stake in shares of Simpson Manufacturing during the 4th quarter valued at about $58,414,000. Raymond James Financial Inc. bought a new stake in shares of Simpson Manufacturing in the 4th quarter valued at approximately $54,644,000. EP Wealth Advisors LLC raised its position in Simpson Manufacturing by 1,020.1% during the third quarter. EP Wealth Advisors LLC now owns 139,828 shares of the construction company’s stock valued at $26,745,000 after acquiring an additional 127,345 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Simpson Manufacturing in the fourth quarter valued at approximately $15,603,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

NYSE SSD opened at $147.36 on Friday. The company has a market cap of $6.19 billion, a P/E ratio of 19.39 and a beta of 1.33. Simpson Manufacturing Co., Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The company has a current ratio of 3.21, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $163.27 and a 200 day simple moving average of $174.28.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share (EPS) 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%. On average, sell-side analysts predict that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders 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 dividend yield of 0.76%. Simpson Manufacturing’s dividend payout ratio is 14.74%.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 8,810 shares of the company’s stock, valued at $1,497,523.80. This represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SSD shares. DA Davidson cut their price target 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 target on Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th.

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.