Candriam S.C.A. acquired a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD – Free Report) in the 1st quarter, HoldingsChannel reports. The fund acquired 41,560 shares of the construction company’s stock, valued at approximately $7,133,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can raised its holdings 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 acquiring an additional 672,402 shares during the period. Norges Bank bought a new stake in Simpson Manufacturing during the fourth quarter valued at about $85,140,000. Victory Capital Management Inc. boosted its holdings in Simpson Manufacturing by 6,234.7% during the fourth quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock valued at $64,257,000 after acquiring an additional 391,665 shares during the period. Capital International Investors grew its position in shares of Simpson Manufacturing by 93.7% in 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 during the last quarter. Finally, ValueAct Holdings L.P. grew its position in shares of Simpson Manufacturing by 21.9% in the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after purchasing an additional 264,200 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on SSD shares. DA Davidson increased their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Robert W. Baird upped their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Stifel Nicolaus raised their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Stephens boosted 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. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $214.75.
Simpson Manufacturing Stock Performance
NYSE SSD opened at $188.86 on Monday. The stock has a market cap of $7.77 billion, a P/E ratio of 22.14 and a beta of 1.30. The company’s 50-day simple moving average is $192.11 and its 200 day simple moving average is $185.17. Simpson Manufacturing Company, Inc. has a twelve month low of $156.32 and a twelve month high of $213.49. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17.
Simpson Manufacturing (NYSE:SSD – Get Free Report) last announced 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 during 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 company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 earnings per share. As a group, research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current fiscal year.
Simpson Manufacturing Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be given a dividend of $0.30 per share. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, July 2nd. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is 14.07%.
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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