Bank of Nova Scotia Purchases 16,000 Shares of Simpson Manufacturing Company, Inc. $SSD

Bank of Nova Scotia boosted its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 32.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,000 shares of the construction company’s stock after purchasing an additional 16,000 shares during the period. Bank of Nova Scotia’s holdings in Simpson Manufacturing were worth $10,250,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Simpson Manufacturing by 135.3% in 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 during the period. Ameritas Advisory Services LLC bought a new stake in shares of Simpson Manufacturing in the 2nd quarter valued at about $31,000. Steph & Co. acquired a new stake in shares of Simpson Manufacturing in the second quarter valued at about $53,000. Putney Financial Group LLC increased its stake in shares of Simpson Manufacturing by 238.4% in the second quarter. Putney Financial Group LLC now owns 379 shares of the construction company’s stock valued at $59,000 after buying an additional 267 shares during the period. Finally, Sprucegrove Investment Management Ltd. bought a new position in shares of Simpson Manufacturing during the second quarter worth about $62,000. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $168.32 on Thursday. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 20.50 and a beta of 1.36. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.88 and a current ratio of 3.35. The stock’s 50 day moving average price is $169.61 and its two-hundred day moving average price is $171.48.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, October 27th. The construction company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.21. The firm had revenue of $623.51 million for the quarter, compared to analyst estimates of $607.79 million. Simpson Manufacturing had a net margin of 14.90% and a return on equity of 18.11%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 earnings per share. On average, equities analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 22nd. Stockholders of record on Friday, January 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, January 2nd. Simpson Manufacturing’s dividend payout ratio is presently 14.13%.

Analysts Set New Price Targets

SSD has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Simpson Manufacturing in a report on Wednesday, October 8th. DA Davidson restated a “neutral” rating and issued a $190.00 price target on shares of Simpson Manufacturing in a research report on Tuesday, October 28th. Finally, Robert W. Baird upped their price objective on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $201.00.

About Simpson Manufacturing

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