Whittier Trust Co. reduced its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD – Free Report) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,650 shares of the construction company’s stock after selling 19,879 shares during the period. Whittier Trust Co. owned about 0.19% of Simpson Manufacturing worth $15,345,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of SSD. Smartleaf Asset Management LLC increased its holdings in shares of Simpson Manufacturing by 33.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after purchasing an additional 57 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of Simpson Manufacturing by 1.3% during the fourth quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock worth $796,000 after purchasing an additional 62 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of Simpson Manufacturing by 0.6% during the fourth quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock worth $1,981,000 after purchasing an additional 77 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Simpson Manufacturing by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock worth $4,236,000 after purchasing an additional 89 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after purchasing an additional 92 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Stifel Nicolaus lifted their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Stephens boosted their price target on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a report on Tuesday, July 28th. Finally, DA Davidson upped their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $216.25.
Simpson Manufacturing Stock Up 0.2%
SSD opened at $195.22 on Friday. The company has a market capitalization of $8.03 billion, a PE ratio of 21.34 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The business has a 50-day moving average of $194.42 and a 200-day moving average of $188.08.
Simpson Manufacturing (NYSE:SSD – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The business had revenue of $671.08 million during the quarter, compared to analysts’ expectations of $658.76 million. During the same quarter in the previous year, the business posted $2.47 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.
Simpson Manufacturing Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be paid a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing’s payout ratio is 13.11%.
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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