River Road Asset Management LLC grew its position in Simpson Manufacturing Company, Inc. (NYSE:SSD – Free Report) by 87.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,126 shares of the construction company’s stock after buying an additional 64,476 shares during the period. River Road Asset Management LLC’s holdings in Simpson Manufacturing were worth $22,303,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SSD. EverSource Wealth Advisors LLC raised its position in shares of Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after buying an additional 92 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Simpson Manufacturing by 322.5% in the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after acquiring an additional 129 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Simpson Manufacturing in the fourth quarter worth approximately $28,000. Los Angeles Capital Management LLC purchased a new position in Simpson Manufacturing in the fourth quarter worth approximately $32,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Simpson Manufacturing during the third quarter worth $34,000. Institutional investors and hedge funds own 93.68% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on SSD shares. Robert W. Baird lifted their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Stifel Nicolaus boosted their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, DA Davidson upped their target price on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $214.75.
Simpson Manufacturing Stock Up 4.5%
Simpson Manufacturing stock opened at $200.46 on Friday. The company has a market capitalization of $8.25 billion, a PE ratio of 23.50 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. Simpson Manufacturing Company, Inc. has a fifty-two week low of $152.11 and a fifty-two week high of $211.98. The firm has a 50 day moving average price of $185.90 and a 200 day moving average price of $181.62.
Simpson Manufacturing (NYSE:SSD – Get Free Report) last released 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. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The company had revenue of $587.96 million for the quarter, compared to analysts’ expectations of $550.08 million. During the same period in the prior year, the firm earned $1.85 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. 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 disclosed 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 represents a $1.20 annualized dividend and a dividend yield of 0.6%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 13.60%.
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.
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