Geode Capital Management LLC Buys 6,869 Shares of Simpson Manufacturing Company, Inc. $SSD

Geode Capital Management LLC grew its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 765,322 shares of the construction company’s stock after acquiring an additional 6,869 shares during the period. Geode Capital Management LLC owned 1.85% of Simpson Manufacturing worth $123,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after acquiring an additional 92 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Simpson Manufacturing by 322.5% during the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock worth $28,000 after buying an additional 129 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Simpson Manufacturing during the fourth quarter worth approximately $28,000. Brown Brothers Harriman & Co. bought a new stake in shares of Simpson Manufacturing during the third quarter worth approximately $34,000. Finally, Hantz Financial Services Inc. raised its stake in shares of Simpson Manufacturing by 98.0% during the third quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company’s stock worth $49,000 after buying an additional 144 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SSD has been the subject of a number of recent research reports. Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. DA Davidson boosted their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Stifel Nicolaus boosted their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Stephens boosted their price target on shares of 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $214.75.

Simpson Manufacturing Trading Down 0.8%

SSD opened at $185.24 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 21.72 and a beta of 1.32. The firm has a 50 day simple moving average of $181.55 and a 200 day simple moving average of $179.62. Simpson Manufacturing Company, Inc. has a fifty-two week low of $151.38 and a fifty-two week high of $211.98.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.29. The firm had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.85 earnings per share. On average, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be issued a dividend of $0.30 per share. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio is presently 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.