GAM Holding AG acquired a new stake in Simpson Manufacturing Co, Inc. (NYSE:SSD) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 15,738 shares of the construction company’s stock, valued at approximately $1,140,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Allianz Asset Management GmbH raised its position in shares of Simpson Manufacturing by 43.4% during the third quarter. Allianz Asset Management GmbH now owns 56,488 shares of the construction company’s stock valued at $4,094,000 after buying an additional 17,109 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Simpson Manufacturing by 12.2% during the third quarter. GSA Capital Partners LLP now owns 16,915 shares of the construction company’s stock valued at $1,226,000 after buying an additional 1,841 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Simpson Manufacturing by 93.2% during the third quarter. Hsbc Holdings PLC now owns 11,226 shares of the construction company’s stock valued at $813,000 after buying an additional 5,415 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in shares of Simpson Manufacturing during the third quarter valued at about $218,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Simpson Manufacturing by 9,274.3% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 112,492 shares of the construction company’s stock valued at $8,151,000 after buying an additional 111,292 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.
SSD has been the subject of a number of research analyst reports. Sidoti upped their price objective on shares of Simpson Manufacturing from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research raised shares of Simpson Manufacturing from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. ValuEngine lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Robert W. Baird lowered shares of Simpson Manufacturing from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $72.00 in a research report on Monday, October 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Simpson Manufacturing currently has a consensus rating of “Hold” and a consensus price target of $74.00.
NYSE SSD opened at $55.23 on Friday. The stock has a market capitalization of $2.59 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 3.67 and a beta of 1.74. Simpson Manufacturing Co, Inc. has a twelve month low of $53.15 and a twelve month high of $78.36.
Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, October 29th. The construction company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. The business had revenue of $284.18 million for the quarter, compared to analysts’ expectations of $296.80 million. Simpson Manufacturing had a net margin of 11.88% and a return on equity of 14.43%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, equities analysts expect that Simpson Manufacturing Co, Inc. will post 3.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Thursday, January 3rd will be paid a $0.22 dividend. The ex-dividend date is Wednesday, January 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.59%. Simpson Manufacturing’s payout ratio is currently 44.44%.
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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.
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