Principal Financial Group Inc. Sells 57,920 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Principal Financial Group Inc. lessened its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 37.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,721 shares of the construction company's stock after selling 57,920 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Simpson Manufacturing worth $18,691,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. World Investment Advisors LLC purchased a new stake in Simpson Manufacturing in the third quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new position in shares of Simpson Manufacturing in the 3rd quarter worth $34,000. Prospera Private Wealth LLC purchased a new position in shares of Simpson Manufacturing in the 3rd quarter worth $37,000. Millburn Ridgefield Corp bought a new stake in shares of Simpson Manufacturing in the third quarter worth $51,000. Finally, Huntington National Bank increased 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 acquiring an additional 142 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Stock Performance

Shares of NYSE SSD traded down $1.88 during trading on Friday, hitting $166.78. The company had a trading volume of 118,494 shares, compared to its average volume of 274,426. The stock has a 50 day simple moving average of $181.24 and a 200 day simple moving average of $180.17. The firm has a market capitalization of $7.03 billion, a P/E ratio of 22.03 and a beta of 1.32. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.99 and a current ratio of 3.53. Simpson Manufacturing Co., Inc. has a 12 month low of $157.42 and a 12 month high of $218.38.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued 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 firm had revenue of $587.15 million for the quarter, compared to analysts' expectations of $589.00 million. Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. Simpson Manufacturing's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 EPS. As a group, analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 2nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, January 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is 14.80%.

Wall Street Analysts Forecast Growth

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.

Insider Buying and Selling

In other news, EVP Roger Dankel sold 250 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $183.06, for a total value of $45,765.00. Following the transaction, the executive vice president now owns 23,814 shares of the company's stock, valued at approximately $4,359,390.84. The trade was a 1.04 % 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. 0.42% of the stock is currently owned by company insiders.

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.