Thu Sep 12 09:15:59 UTC 2024: ## ClariVest Asset Management Cuts Stake in Simpson Manufacturing, Other Investors Make Moves

**Seattle, WA – September 12, 2024** – ClariVest Asset Management LLC trimmed its holdings in construction company Simpson Manufacturing Co., Inc. (NYSE: SSD) by 46.2% during the second quarter, according to a recent SEC filing. The fund now owns 9,492 shares, worth $1.6 million, after selling off 8,138 shares. This move comes as several other institutional investors and hedge funds adjusted their positions in the company.

Truist Financial Corp increased its stake by 6.4%, now owning 2,561 shares worth $507,000. Russell Investments Group Ltd. also boosted its position by 30.6%, now holding 6,866 shares worth $1,359,000. QRG Capital Management Inc. raised its stake by 8.6%, now owning 6,384 shares valued at $1,264,000. Meanwhile, Kingsview Wealth Management LLC purchased a new stake worth approximately $242,000, and Financial Advocates Investment Management boosted its stake by 9.7%, now owning 1,601 shares worth $317,000.

In other news, Simpson Manufacturing executives have been selling shares. EVP Roger Dankel sold 2,700 shares on August 1st for $514,188, leaving him with 24,064 shares. CEO Michael Olosky sold 6,871 shares on August 26th for $1,287,694.11, leaving him with 19,534 shares.

The company recently reported earnings, missing analyst expectations for both earnings per share and revenue. Simpson Manufacturing posted $2.31 EPS for the quarter, falling short of the $2.44 consensus estimate. Revenue came in at $596.98 million, compared to analyst expectations of $604.67 million.

Despite this, Simpson Manufacturing remains a popular choice among investors, with 93.68% of the stock owned by institutional investors and hedge funds. The company also declared a quarterly dividend of $0.28 per share, payable on October 24th to stockholders of record on October 3rd.

Simpson Manufacturing Co., Inc. specializes in structural solutions for wood, concrete, and steel connections. Their products are used in light-frame construction, concrete and masonry projects, and steel construction.

**Disclaimer:** This is a summary based on the provided text and should not be considered financial advice.

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