Teacher Retirement System of Texas Sells 7,256 Shares of Simpson Manufacturing Company, Inc. $SSD

Teacher Retirement System of Texas trimmed its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,645 shares of the construction company’s stock after selling 7,256 shares during the period. Teacher Retirement System of Texas’ holdings in Simpson Manufacturing were worth $4,797,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SSD. AQR Capital Management LLC increased its holdings in Simpson Manufacturing by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company’s stock valued at $798,000 after purchasing an additional 1,726 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Simpson Manufacturing by 11.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company’s stock worth $427,000 after buying an additional 286 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Simpson Manufacturing during the first quarter valued at approximately $531,000. Goldman Sachs Group Inc. raised its holdings in shares of Simpson Manufacturing by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company’s stock valued at $33,327,000 after acquiring an additional 64,114 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Simpson Manufacturing by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company’s stock worth $19,022,000 after acquiring an additional 12,865 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SSD shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Simpson Manufacturing in a research report on Wednesday, January 21st. Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, DA Davidson set a $190.00 price objective on shares of Simpson Manufacturing in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Simpson Manufacturing currently has an average rating of “Hold” and an average price target of $201.00.

Insider Activity

In other news, Director Philip E. Donaldson sold 2,375 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $168.16, for a total value of $399,380.00. Following the sale, the director directly owned 6,086 shares of the company’s stock, valued at $1,023,421.76. The trade was a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.39% of the company’s stock.

Simpson Manufacturing Stock Down 1.8%

Shares of Simpson Manufacturing stock opened at $179.43 on Wednesday. Simpson Manufacturing Company, Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 21.86 and a beta of 1.37. The company has a 50-day moving average of $171.20 and a 200 day moving average of $175.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 1.88.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, October 27th. The construction company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.37 by $0.21. Simpson Manufacturing had a net margin of 14.90% and a return on equity of 18.11%. The business had revenue of $623.51 million for the quarter, compared to analyst estimates of $607.79 million. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Simpson Manufacturing’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.