Cornerstone Capital Inc. Sells 19,585 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Cornerstone Capital Inc. lowered its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,676 shares of the construction company's stock after selling 19,585 shares during the period. Simpson Manufacturing accounts for about 1.9% of Cornerstone Capital Inc.'s holdings, making the stock its 21st biggest position. Cornerstone Capital Inc. owned 0.26% of Simpson Manufacturing worth $18,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP grew its position in shares of Simpson Manufacturing by 7.7% during the 4th quarter. First Trust Advisors LP now owns 86,558 shares of the construction company's stock valued at $14,354,000 after purchasing an additional 6,174 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Simpson Manufacturing by 1.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 37,692 shares of the construction company's stock valued at $6,249,000 after acquiring an additional 672 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Simpson Manufacturing by 300.2% in the fourth quarter. Champlain Investment Partners LLC now owns 336,051 shares of the construction company's stock worth $55,727,000 after purchasing an additional 252,085 shares during the last quarter. Farringdon Capital Ltd. purchased a new stake in Simpson Manufacturing in the fourth quarter valued at approximately $508,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in Simpson Manufacturing during the fourth quarter valued at approximately $466,000. Institutional investors own 93.68% of the company's stock.

Insiders Place Their Bets

In related news, EVP Michael Andersen sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total value of $169,980.00. Following the sale, the executive vice president now owns 8,810 shares in the company, valued at $1,497,523.80. This represents a 10.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.42% of the company's stock.

Analyst Ratings Changes

SSD has been the subject of several research reports. Robert W. Baird cut their target price on shares of Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. DA Davidson cut their price objective on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th.

Simpson Manufacturing Trading Up 1.5 %

Shares of NYSE SSD traded up $2.23 during trading hours on Wednesday, hitting $150.33. The company's stock had a trading volume of 187,031 shares, compared to its average volume of 284,437. The business has a 50-day simple moving average of $157.55 and a 200-day simple moving average of $170.10. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 19.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 3.21. Simpson Manufacturing Co., Inc. has a 12 month low of $137.35 and a 12 month high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.27 by $0.04. Simpson Manufacturing had a net margin of 14.44% and a return on equity of 18.00%. On average, analysts anticipate that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.75%. Simpson Manufacturing's dividend payout ratio (DPR) is 14.74%.

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.