Simpson Manufacturing Company, Inc. $SSD Shares Bought by Cynosure Group LLC

Cynosure Group LLC grew its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 21.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,622 shares of the construction company’s stock after purchasing an additional 466 shares during the period. Cynosure Group LLC’s holdings in Simpson Manufacturing were worth $407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in Simpson Manufacturing by 0.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,534,724 shares of the construction company’s stock worth $712,314,000 after buying an additional 40,461 shares during the period. JPMorgan Chase & Co. increased its position in shares of Simpson Manufacturing by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 1,747,872 shares of the construction company’s stock worth $274,556,000 after acquiring an additional 30,614 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Simpson Manufacturing by 6.8% in the first quarter. Burgundy Asset Management Ltd. now owns 673,535 shares of the construction company’s stock worth $105,799,000 after acquiring an additional 43,099 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Simpson Manufacturing by 8.0% in the first quarter. Ameriprise Financial Inc. now owns 627,696 shares of the construction company’s stock valued at $98,602,000 after purchasing an additional 46,290 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Simpson Manufacturing by 0.7% in the first quarter. Northern Trust Corp now owns 556,097 shares of the construction company’s stock valued at $87,352,000 after purchasing an additional 4,111 shares during the last quarter. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SSD. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. DA Davidson restated a “neutral” rating and issued a $190.00 price target on shares of Simpson Manufacturing in a research note on Tuesday, October 28th. Finally, Robert W. Baird increased their price objective on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Simpson Manufacturing presently has an average rating of “Hold” and an average price target of $201.00.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $162.61 on Tuesday. The firm’s 50 day moving average is $171.59 and its two-hundred day moving average is $170.92. The firm has a market capitalization of $6.74 billion, a P/E ratio of 19.81 and a beta of 1.27. The company has a current ratio of 3.35, a quick ratio of 1.80 and a debt-to-equity ratio of 0.17. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, October 27th. The construction company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $607.79 million. During the same period in the previous year, the business earned $2.21 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 22nd. Shareholders of record on Friday, January 2nd will be given a $0.29 dividend. The ex-dividend date is Friday, January 2nd. This represents a $1.16 annualized dividend and a yield of 0.7%. Simpson Manufacturing’s payout ratio is 14.13%.

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.