Synovus Financial Corp Invests $585,000 in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Synovus Financial Corp purchased a new position in Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,525 shares of the construction company's stock, valued at approximately $585,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Petros Family Wealth LLC bought a new stake in Simpson Manufacturing during the 4th quarter valued at $385,000. Sterling Capital Management LLC grew its stake in Simpson Manufacturing by 53.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,359 shares of the construction company's stock valued at $391,000 after purchasing an additional 823 shares during the last quarter. Argent Trust Co raised its holdings in Simpson Manufacturing by 23.9% in the fourth quarter. Argent Trust Co now owns 1,376 shares of the construction company's stock worth $228,000 after purchasing an additional 265 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Simpson Manufacturing by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,630 shares of the construction company's stock valued at $3,089,000 after buying an additional 110 shares during the last quarter. Finally, Ranger Investment Management L.P. grew its position in shares of Simpson Manufacturing by 57.5% in the 4th quarter. Ranger Investment Management L.P. now owns 100,306 shares of the construction company's stock worth $16,634,000 after buying an additional 36,628 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock traded up $5.03 during mid-day trading on Wednesday, reaching $153.13. 20,035 shares of the company traded hands, compared to its average volume of 283,798. The firm's fifty day moving average is $157.55 and its two-hundred day moving average is $170.10. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 20.15 and a beta of 1.33. Simpson Manufacturing Co., Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.21 and a quick ratio of 1.59.

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

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Thursday, April 3rd. Simpson Manufacturing's dividend payout ratio (DPR) is currently 14.74%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SSD shares. Robert W. Baird lowered 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 note on Tuesday, February 11th. DA Davidson dropped their target price on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total value of $169,980.00. Following the sale, the executive vice president now directly owns 8,810 shares of the company's stock, valued at approximately $1,497,523.80. This represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.42% of the company's stock.

Simpson Manufacturing Profile

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.