Cadence Bank Trims Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Cadence Bank decreased its holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 1.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,456 shares of the construction company’s stock after selling 70 shares during the period. Cadence Bank’s holdings in Simpson Manufacturing were worth $1,235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Simpson Manufacturing during the third quarter worth approximately $34,000. Prospera Private Wealth LLC purchased a new position in shares of Simpson Manufacturing in the 3rd quarter worth $37,000. Huntington National Bank boosted its holdings in Simpson Manufacturing by 73.2% in 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. GAMMA Investing LLC grew its position in Simpson Manufacturing by 93.9% during the third quarter. GAMMA Investing LLC now owns 380 shares of the construction company’s stock valued at $73,000 after acquiring an additional 184 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Simpson Manufacturing during the second quarter worth about $77,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their price objective on Simpson Manufacturing from $202.00 to $218.00 and gave the company an “outperform” rating in a research note on Monday, October 21st.

Simpson Manufacturing Price Performance

SSD opened at $186.77 on Thursday. The company has a 50 day moving average of $186.72 and a two-hundred day moving average of $178.58. Simpson Manufacturing Co., Inc. has a 52-week low of $157.42 and a 52-week high of $218.38. The company has a quick ratio of 1.99, a current ratio of 3.53 and a debt-to-equity ratio of 0.24. The company has a market cap of $7.87 billion, a P/E ratio of 24.67 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, October 21st. The construction company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.19). Simpson Manufacturing had a net margin of 14.51% and a return on equity of 18.29%. The company had revenue of $587.15 million during the quarter, compared to analyst estimates of $589.00 million. During the same quarter in the prior year, the company posted $2.43 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts expect that Simpson Manufacturing Co., Inc. will post 7.55 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. 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.