Cooke & Bieler LP Buys 56,769 Shares of Simpson Manufacturing Company, Inc. $SSD

Cooke & Bieler LP grew its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 77.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,685 shares of the construction company’s stock after buying an additional 56,769 shares during the period. Cooke & Bieler LP’s holdings in Simpson Manufacturing were worth $20,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SSD. Hantz Financial Services Inc. raised its position in shares of Simpson Manufacturing by 70.1% in the 4th quarter. Hantz Financial Services Inc. now owns 495 shares of the construction company’s stock valued at $80,000 after acquiring an additional 204 shares during the period. MQS Management LLC acquired a new position in Simpson Manufacturing during the fourth quarter valued at approximately $659,000. EverSource Wealth Advisors LLC increased its stake in Simpson Manufacturing by 242.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 596 shares of the construction company’s stock valued at $96,000 after purchasing an additional 422 shares in the last quarter. IFP Advisors Inc raised its holdings in Simpson Manufacturing by 22.7% in the fourth quarter. IFP Advisors Inc now owns 864 shares of the construction company’s stock worth $140,000 after purchasing an additional 160 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Simpson Manufacturing by 27.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,082 shares of the construction company’s stock worth $336,000 after purchasing an additional 444 shares during the period. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SSD. DA Davidson boosted their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Stifel Nicolaus boosted their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Stephens increased their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $214.75.

Simpson Manufacturing Stock Up 0.1%

Shares of Simpson Manufacturing stock opened at $185.26 on Tuesday. The firm has a market cap of $7.62 billion, a PE ratio of 21.72 and a beta of 1.34. The business’s 50 day simple moving average is $178.92 and its 200 day simple moving average is $178.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. Simpson Manufacturing Company, Inc. has a 52-week low of $151.38 and a 52-week high of $211.98.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The company had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. During the same period last year, the business earned $1.85 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Simpson Manufacturing Company, Inc. will post 9.18 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.60%.

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.