Clearbridge Investments LLC Makes New Investment in Simpson Manufacturing Company, Inc. $SSD

Clearbridge Investments LLC purchased a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 93,625 shares of the construction company’s stock, valued at approximately $15,118,000. Clearbridge Investments LLC owned approximately 0.23% of Simpson Manufacturing as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cooke & Bieler LP increased its stake in Simpson Manufacturing by 77.9% in the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock valued at $20,940,000 after purchasing an additional 56,769 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Simpson Manufacturing by 117.6% in the third quarter. Rafferty Asset Management LLC now owns 33,651 shares of the construction company’s stock valued at $5,635,000 after purchasing an additional 18,186 shares in the last quarter. Westview Management dba Westview Investment Advisors bought a new position in Simpson Manufacturing in the fourth quarter worth approximately $2,074,000. Comerica Bank boosted its holdings in Simpson Manufacturing by 21.6% in the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock worth $19,921,000 after acquiring an additional 21,889 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Simpson Manufacturing by 2,359.1% in the fourth quarter. SG Americas Securities LLC now owns 62,364 shares of the construction company’s stock worth $10,070,000 after acquiring an additional 59,828 shares in the last quarter. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Price Performance

Shares of NYSE SSD opened at $186.44 on Thursday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 21.86 and a beta of 1.32. The firm’s 50-day simple moving average is $182.73 and its 200 day simple moving average is $180.41. Simpson Manufacturing Company, Inc. has a fifty-two week low of $151.38 and a fifty-two week high of $211.98. 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 (NYSE:SSD) last released its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.29. The business had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.Simpson Manufacturing’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 EPS. As a group, research analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, July 2nd. 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%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SSD. 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 target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Robert W. Baird boosted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Stephens boosted their price target on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $214.75.

Simpson Manufacturing Company 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.