Bank of New York Mellon Corp Increases Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

Bank of New York Mellon Corp lifted its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 1.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 296,611 shares of the construction company’s stock after buying an additional 5,121 shares during the quarter. Bank of New York Mellon Corp’s holdings in Simpson Manufacturing were worth $50,904,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Candriam S.C.A. purchased a new position in Simpson Manufacturing in the first quarter worth approximately $7,133,000. Cooke & Bieler LP lifted its stake in shares of Simpson Manufacturing by 77.9% in the 4th 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 during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Simpson Manufacturing in the 1st quarter valued at $4,424,000. Comerica Bank grew its holdings in shares of Simpson Manufacturing by 21.6% during 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 during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Simpson Manufacturing by 2,359.1% during the 4th quarter. SG Americas Securities LLC now owns 62,364 shares of the construction company’s stock worth $10,070,000 after purchasing an additional 59,828 shares during the period. 93.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SSD shares. Stifel Nicolaus boosted their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. 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 research note on Tuesday, April 28th. Robert W. Baird upped their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings cut shares of Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Simpson Manufacturing currently has an average rating of “Hold” and a consensus target price of $214.75.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $189.11 on Friday. The company’s 50 day moving average price is $192.05 and its 200 day moving average price is $186.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. The company has a market capitalization of $7.78 billion, a PE ratio of 22.17 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same quarter in the prior year, the firm earned $1.85 EPS. The company’s revenue was up 9.1% on a year-over-year basis. Research analysts expect that Simpson Manufacturing Company, Inc. will post 9.13 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

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

About Simpson Manufacturing

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.