JPMorgan Chase & Co. Sells 73,769 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

JPMorgan Chase & Co. reduced its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing 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 4.19% of Simpson Manufacturing worth $337,906,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SSD. FMR LLC lifted its position in Simpson Manufacturing by 24.2% during the third quarter. FMR LLC now owns 1,710,358 shares of the construction company's stock worth $327,140,000 after purchasing an additional 333,390 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Simpson Manufacturing by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,421,930 shares of the construction company's stock worth $271,972,000 after acquiring an additional 24,253 shares during the period. State Street Corp boosted its position in shares of Simpson Manufacturing by 1.7% during the 3rd quarter. State Street Corp now owns 1,256,820 shares of the construction company's stock worth $240,392,000 after acquiring an additional 20,404 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Simpson Manufacturing by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 945,421 shares of the construction company's stock valued at $159,343,000 after acquiring an additional 39,803 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Simpson Manufacturing by 1.0% during the third quarter. Geode Capital Management LLC now owns 707,664 shares of the construction company's stock valued at $135,390,000 after purchasing an additional 7,351 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird raised their target price on Simpson Manufacturing from $202.00 to $218.00 and gave the company an "outperform" rating in a report on Monday, October 21st.

Insiders Place Their Bets

In other news, EVP Roger Dankel sold 250 shares of Simpson Manufacturing stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $183.06, for a total transaction of $45,765.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company's stock.

Simpson Manufacturing Price Performance

NYSE SSD traded down $1.33 during trading on Monday, hitting $165.45. 165,529 shares of the company's stock were exchanged, compared to its average volume of 273,992. The company has a market cap of $6.98 billion, a PE ratio of 21.86 and a beta of 1.32. 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 Co., Inc. has a fifty-two week low of $157.42 and a fifty-two week high of $218.38. The stock's 50 day moving average price is $181.24 and its two-hundred day moving average price is $180.42.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.40 by ($0.19). Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The company had revenue of $587.15 million for the quarter, compared to analyst estimates of $589.00 million. During the same quarter in the prior year, the company earned $2.43 earnings per share. Simpson Manufacturing's revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that Simpson Manufacturing Co., Inc. will post 7.55 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, January 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is 14.80%.

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.