NewEdge Wealth LLC reduced its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD – Free Report) by 12.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,993 shares of the construction company’s stock after selling 3,553 shares during the quarter. NewEdge Wealth LLC’s holdings in Simpson Manufacturing were worth $4,118,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. ValueAct Holdings L.P. grew its stake in shares of Simpson Manufacturing by 21.9% in the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock worth $237,707,000 after acquiring an additional 264,200 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Simpson Manufacturing by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company’s stock worth $141,826,000 after purchasing an additional 31,744 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Simpson Manufacturing by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company’s stock worth $123,603,000 after purchasing an additional 6,869 shares during the last quarter. Bank of Montreal Can grew its position in Simpson Manufacturing by 11,044.7% in the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after purchasing an additional 672,402 shares in the last quarter. Finally, Capital International Investors grew its position in Simpson Manufacturing by 93.7% in the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock worth $107,086,000 after purchasing an additional 320,870 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SSD has been the topic of several recent analyst reports. Stephens lifted their target price on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Stifel Nicolaus boosted their target price on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings lowered Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, DA Davidson lifted their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $214.75.
Simpson Manufacturing Stock Performance
NYSE:SSD opened at $193.58 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. The business has a fifty day simple moving average of $192.35 and a two-hundred day simple moving average of $186.69. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The company has a market capitalization of $7.96 billion, a P/E ratio of 22.69 and a beta of 1.30.
Simpson Manufacturing (NYSE:SSD – Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating 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 return on equity of 17.72% and a net margin of 14.92%.The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.85 EPS. On average, analysts expect that Simpson Manufacturing Company, Inc. will post 9.07 earnings per share for the current year.
Simpson Manufacturing Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is 14.07%.
About Simpson Manufacturing
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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