Bessemer Group Inc. Boosts Holdings in Simpson Manufacturing Company, Inc. $SSD

Bessemer Group Inc. boosted its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 2.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 181,480 shares of the construction company’s stock after purchasing an additional 3,666 shares during the period. Bessemer Group Inc.’s holdings in Simpson Manufacturing were worth $31,147,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Candriam S.C.A. purchased a new stake in shares of Simpson Manufacturing in the first quarter worth about $7,133,000. Cooke & Bieler LP raised its position in Simpson Manufacturing by 77.9% during the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock valued at $20,940,000 after acquiring an additional 56,769 shares in the last quarter. Westview Management dba Westview Investment Advisors acquired a new position in Simpson Manufacturing in the fourth quarter valued at approximately $2,074,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Simpson Manufacturing in the first quarter valued at approximately $4,424,000. Finally, Comerica Bank boosted its position in Simpson Manufacturing by 21.6% in the 4th quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock worth $19,921,000 after purchasing an additional 21,889 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

NYSE:SSD opened at $188.98 on Friday. The stock has a 50 day moving average of $191.90 and a two-hundred day moving average of $185.83. Simpson Manufacturing Company, Inc. has a 12 month low of $156.32 and a 12 month high of $213.49. The firm has a market cap of $7.77 billion, a P/E ratio of 22.15 and a beta of 1.30. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17.

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

Simpson Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing’s payout ratio is currently 14.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. DA Davidson raised their price objective 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. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Stifel Nicolaus increased their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird raised their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings lowered shares of Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $214.75.

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.