BlackRock Inc. Increases Stake in Simpson Manufacturing Co, Inc. (SSD)

BlackRock Inc. boosted its holdings in Simpson Manufacturing Co, Inc. (NYSE:SSD) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,996,211 shares of the construction company’s stock after buying an additional 358,754 shares during the period. BlackRock Inc. owned approximately 12.95% of Simpson Manufacturing worth $372,905,000 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 the stock. Dimensional Fund Advisors LP lifted its holdings in Simpson Manufacturing by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,825,382 shares of the construction company’s stock valued at $105,124,000 after buying an additional 15,100 shares during the period. Wells Fargo & Company MN lifted its holdings in Simpson Manufacturing by 3.3% in the first quarter. Wells Fargo & Company MN now owns 1,583,067 shares of the construction company’s stock valued at $91,169,000 after buying an additional 49,861 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in Simpson Manufacturing by 7.0% in the second quarter. Conestoga Capital Advisors LLC now owns 1,411,167 shares of the construction company’s stock valued at $87,760,000 after buying an additional 92,772 shares during the period. Brown Advisory Inc. lifted its holdings in Simpson Manufacturing by 9.3% in the first quarter. Brown Advisory Inc. now owns 1,015,666 shares of the construction company’s stock valued at $58,492,000 after buying an additional 86,051 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Simpson Manufacturing by 54.1% in the second quarter. Victory Capital Management Inc. now owns 546,939 shares of the construction company’s stock valued at $34,014,000 after buying an additional 192,024 shares during the period. Institutional investors and hedge funds own 89.21% of the company’s stock.

SSD opened at $76.86 on Friday. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 39.25, a PEG ratio of 5.08 and a beta of 1.58. Simpson Manufacturing Co, Inc. has a twelve month low of $46.00 and a twelve month high of $78.36.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, July 30th. The construction company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.21. The company had revenue of $308.01 million for the quarter, compared to analyst estimates of $282.02 million. Simpson Manufacturing had a net margin of 10.58% and a return on equity of 12.61%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. sell-side analysts anticipate that Simpson Manufacturing Co, Inc. will post 3.06 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Thursday, October 4th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, October 3rd. This represents a $0.88 annualized dividend and a yield of 1.14%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 44.44%.

In other Simpson Manufacturing news, Director James S. Andrasick sold 1,950 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $73.43, for a total value of $143,188.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.39% of the company’s stock.

Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Simpson Manufacturing from a “sell” rating to a “hold” rating and set a $82.00 target price on the stock in a report on Thursday, August 2nd. Sidoti upgraded shares of Simpson Manufacturing from a “neutral” rating to a “buy” rating in a report on Tuesday, July 31st. Finally, Robert W. Baird set a $75.00 target price on shares of Simpson Manufacturing and gave the stock a “buy” rating in a report on Monday, July 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Simpson Manufacturing currently has an average rating of “Buy” and an average price target of $74.75.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.

Further Reading: Understanding Relative Strength Index

Institutional Ownership by Quarter for Simpson Manufacturing (NYSE:SSD)

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