Legal & General Group Plc Reduces Holdings in Simpson Manufacturing Company, Inc. $SSD

Legal & General Group Plc lessened its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,094 shares of the construction company’s stock after selling 15,666 shares during the period. Legal & General Group Plc owned 0.15% of Simpson Manufacturing worth $10,026,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings 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 in the last quarter. MQS Management LLC bought a new stake in shares of Simpson Manufacturing in the 4th quarter worth approximately $659,000. EverSource Wealth Advisors LLC grew its position in shares of Simpson Manufacturing by 242.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 596 shares of the construction company’s stock worth $96,000 after buying an additional 422 shares during the last quarter. IFP Advisors Inc grew its position in shares of Simpson Manufacturing by 22.7% in the 4th quarter. IFP Advisors Inc now owns 864 shares of the construction company’s stock worth $140,000 after buying an additional 160 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Simpson Manufacturing by 27.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,082 shares of the construction company’s stock worth $336,000 after buying an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Down 0.8%

Shares of NYSE:SSD opened at $186.63 on Friday. Simpson Manufacturing Company, Inc. has a 12-month low of $151.38 and a 12-month high of $211.98. The stock has a fifty day simple moving average of $181.34 and a two-hundred day simple moving average of $179.58. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 21.88 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last posted 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 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 quarter in the previous year, the business earned $1.85 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, 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 firm also recently declared 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 is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 13.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. DA Davidson raised their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Stephens raised their target price on 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, Robert W. Baird raised their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Simpson Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price 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.