Franklin Resources Inc. Lowers Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Franklin Resources Inc. lessened its holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 98.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,871 shares of the construction company's stock after selling 176,718 shares during the period. Franklin Resources Inc.'s holdings in Simpson Manufacturing were worth $555,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. World Investment Advisors LLC bought a new position in shares of Simpson Manufacturing in the 3rd quarter worth $30,000. V Square Quantitative Management LLC purchased a new position in Simpson Manufacturing in the third quarter worth $34,000. Prospera Private Wealth LLC bought a new position in Simpson Manufacturing in the third quarter valued at $37,000. Millburn Ridgefield Corp bought a new position in Simpson Manufacturing in the third quarter valued at $51,000. Finally, Huntington National Bank raised its position in Simpson Manufacturing by 73.2% during the third quarter. Huntington National Bank now owns 336 shares of the construction company's stock valued at $64,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Trading Up 0.2 %

Shares of SSD traded up $0.38 during mid-day trading on Tuesday, reaching $165.83. The company's stock had a trading volume of 130,827 shares, compared to its average volume of 273,424. Simpson Manufacturing Co., Inc. has a 52 week low of $157.42 and a 52 week high of $218.38. The stock has a market cap of $6.99 billion, a PE ratio of 21.91 and a beta of 1.32. The company's fifty day moving average price is $180.82 and its two-hundred day moving average price is $180.42. 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 - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.19). The business had revenue of $587.15 million during the quarter, compared to the consensus estimate of $589.00 million. Simpson Manufacturing had a return on equity of 18.29% and a net margin of 14.51%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.43 earnings per share. On average, analysts predict that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be given a $0.28 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.12 annualized dividend and a yield of 0.68%. Simpson Manufacturing's payout ratio is currently 14.80%.

Insider Activity

In related news, EVP Roger Dankel sold 250 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $183.06, for a total value of $45,765.00. Following the sale, the executive vice president now directly owns 23,814 shares of the company's stock, valued at $4,359,390.84. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird increased their price objective on 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.