Simpson Manufacturing Co., Inc. (NYSE:SSD) is Baker Avenue Asset Management LP's Largest Position

Baker Avenue Asset Management LP reduced its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 16.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,337,753 shares of the construction company's stock after selling 265,000 shares during the quarter. Simpson Manufacturing accounts for about 8.1% of Baker Avenue Asset Management LP's investment portfolio, making the stock its biggest holding. Baker Avenue Asset Management LP owned 3.17% of Simpson Manufacturing worth $255,872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SkyView Investment Advisors LLC lifted its position in Simpson Manufacturing by 0.7% during the second quarter. SkyView Investment Advisors LLC now owns 9,161 shares of the construction company's stock valued at $1,544,000 after purchasing an additional 67 shares during the period. Commonwealth Equity Services LLC increased its position in Simpson Manufacturing by 1.8% during the second quarter. Commonwealth Equity Services LLC now owns 4,136 shares of the construction company's stock valued at $697,000 after acquiring an additional 72 shares during the last quarter. Private Advisor Group LLC increased its position in Simpson Manufacturing by 4.3% during the first quarter. Private Advisor Group LLC now owns 2,199 shares of the construction company's stock valued at $451,000 after acquiring an additional 91 shares during the last quarter. Inspire Investing LLC lifted its holdings in Simpson Manufacturing by 4.0% in the third quarter. Inspire Investing LLC now owns 2,437 shares of the construction company's stock valued at $466,000 after acquiring an additional 94 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in Simpson Manufacturing by 0.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 39,391 shares of the construction company's stock worth $7,473,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 93.68% of the company's stock.

Insider Transactions at Simpson Manufacturing

In related news, Director James S. Andrasick sold 500 shares of Simpson Manufacturing stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $178.75, for a total transaction of $89,375.00. Following the transaction, the director now owns 866 shares in the company, valued at approximately $154,797.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Olosky sold 6,871 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $187.41, for a total value of $1,287,694.11. Following the transaction, the chief executive officer now owns 19,534 shares of the company's stock, valued at approximately $3,660,866.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James S. Andrasick sold 500 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $178.75, for a total transaction of $89,375.00. Following the transaction, the director now owns 866 shares of the company's stock, valued at approximately $154,797.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,871 shares of company stock valued at $1,658,259 over the last three months. Corporate insiders own 0.42% of the company's stock.

Analyst Ratings Changes

Separately, Robert W. Baird increased their price objective on shares of Simpson Manufacturing from $202.00 to $218.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st.

Simpson Manufacturing Stock Performance

Shares of NYSE:SSD traded up $2.14 during midday trading on Friday, hitting $189.25. The company had a trading volume of 192,219 shares, compared to its average volume of 296,948. Simpson Manufacturing Co., Inc. has a 12-month low of $140.62 and a 12-month high of $218.38. The company has a fifty day moving average of $184.80 and a two-hundred day moving average of $177.91. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 25.00 and a beta of 1.32. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.53 and a quick ratio of 1.99.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The construction company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.19). The company 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 firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $2.43 EPS. On average, equities research analysts expect that Simpson Manufacturing Co., Inc. will post 7.55 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently declared 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 of this dividend is Thursday, January 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. Simpson Manufacturing's payout ratio is currently 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.