Fisher Asset Management LLC Increases Position in Simpson Manufacturing Company, Inc. $SSD

Fisher Asset Management LLC grew its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,661 shares of the construction company’s stock after purchasing an additional 7,656 shares during the quarter. Fisher Asset Management LLC owned approximately 0.35% of Simpson Manufacturing worth $24,057,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Simpson Manufacturing in the second quarter valued at $77,528,000. Rivulet Capital LLC purchased a new position in shares of Simpson Manufacturing in the 2nd quarter valued at about $40,932,000. First Trust Advisors LP raised its position in shares of Simpson Manufacturing by 33.6% during the 2nd quarter. First Trust Advisors LP now owns 514,406 shares of the construction company’s stock worth $79,893,000 after acquiring an additional 129,354 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Simpson Manufacturing by 24.2% during the second quarter. Champlain Investment Partners LLC now owns 501,850 shares of the construction company’s stock worth $77,942,000 after purchasing an additional 97,856 shares during the last quarter. Finally, Argent Capital Management LLC acquired a new position in Simpson Manufacturing in the third quarter valued at approximately $15,976,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

Shares of SSD stock opened at $190.65 on Wednesday. The stock’s 50-day moving average price is $185.21 and its 200 day moving average price is $178.85. The company has a quick ratio of 1.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $7.89 billion, a PE ratio of 23.11 and a beta of 1.35. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $211.98.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, February 9th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.The business had revenue of $539.35 million for the quarter, compared to analyst estimates of $530.70 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, April 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.06%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SSD shares. DA Davidson raised their price objective on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Weiss Ratings lowered shares of Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Robert W. Baird set a $222.00 price target on shares of Simpson Manufacturing in a research report on Tuesday, February 10th. Stephens set a $200.00 price objective on Simpson Manufacturing in a report on Tuesday, February 10th. Finally, Wall Street Zen raised Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $207.33.

Insider Buying and Selling at Simpson Manufacturing

In other news, Director Philip E. Donaldson sold 2,375 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $168.16, for a total transaction of $399,380.00. Following the transaction, the director directly owned 6,086 shares in the company, valued at $1,023,421.76. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by insiders.

Simpson Manufacturing 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.