Corebridge Financial Inc. Lowers Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Corebridge Financial Inc. trimmed its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,756 shares of the construction company’s stock after selling 2,152 shares during the period. Corebridge Financial Inc. owned about 0.11% of Simpson Manufacturing worth $7,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of SSD. New York Life Investment Management LLC purchased a new position in Simpson Manufacturing during the fourth quarter valued at approximately $738,000. Diversified Trust Co purchased a new position in shares of Simpson Manufacturing in the 4th quarter valued at $591,000. Geode Capital Management LLC raised its position in shares of Simpson Manufacturing by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 707,664 shares of the construction company’s stock worth $135,390,000 after acquiring an additional 7,351 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Simpson Manufacturing by 29.3% during the 4th quarter. Van ECK Associates Corp now owns 36,052 shares of the construction company’s stock worth $5,979,000 after purchasing an additional 8,170 shares during the last quarter. Finally, Financial Advocates Investment Management bought a new stake in Simpson Manufacturing during the fourth quarter valued at about $401,000. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Down 0.1 %

Shares of SSD stock opened at $158.93 on Friday. The stock’s fifty day moving average price is $164.98 and its 200 day moving average price is $175.26. Simpson Manufacturing Co., Inc. has a 1-year low of $152.74 and a 1-year high of $206.48. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 20.91 and a beta of 1.39. 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) last issued its quarterly earnings results on Monday, February 10th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate 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, 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 business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 3rd. Simpson Manufacturing’s dividend payout ratio is presently 14.74%.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $169.98, for a total transaction of $169,980.00. Following the sale, the executive vice president now owns 8,810 shares in the company, valued at approximately $1,497,523.80. The trade was a 10.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. DA Davidson reduced their target price on shares of Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Robert W. Baird reduced their price objective 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.

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.