Peterson Wealth Services raised its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD – Free Report) by 257.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,866 shares of the construction company’s stock after buying an additional 3,505 shares during the quarter. Peterson Wealth Services’ holdings in Simpson Manufacturing were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in SSD. Norges Bank purchased a new position in shares of Simpson Manufacturing during the fourth quarter valued at about $85,140,000. Capital International Investors grew its position in shares of Simpson Manufacturing by 93.7% during the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock valued at $107,086,000 after purchasing an additional 320,870 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Simpson Manufacturing by 56.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 494,394 shares of the construction company’s stock valued at $79,830,000 after purchasing an additional 179,332 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Simpson Manufacturing by 8,834.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 158,595 shares of the construction company’s stock valued at $25,608,000 after purchasing an additional 156,820 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Simpson Manufacturing in the fourth quarter valued at $15,118,000. 93.68% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on SSD shares. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Stifel Nicolaus lifted their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Stephens lifted their price target on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. DA Davidson lifted their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $214.75.
Simpson Manufacturing Stock Up 4.1%
Shares of SSD opened at $193.78 on Friday. The firm has a fifty day moving average price of $183.18 and a 200-day moving average price of $180.63. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $7.97 billion, a P/E ratio of 22.72 and a beta of 1.32. Simpson Manufacturing Company, Inc. has a 12-month low of $151.38 and a 12-month high of $211.98.
Simpson Manufacturing (NYSE:SSD – Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. The firm had revenue of $587.96 million for the quarter, compared to analysts’ expectations of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share. Equities research analysts expect that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.
Simpson Manufacturing Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be issued a $0.30 dividend. The ex-dividend date is Thursday, July 2nd. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 13.60%.
Simpson Manufacturing Company 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.
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