Simpson Manufacturing Company, Inc. $SSD Shares Purchased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its holdings in Simpson Manufacturing Company by 205.2%, acquiring an additional 2,493 shares, bringing their total to 3,708 shares valued at approximately $582,000.
• Simpson Manufacturing recently reported a quarterly earnings of $2.47 per share, exceeding estimates, with revenue of $631.06 million, marking a year-over-year increase of 5.7%.
• The company plans to pay a quarterly dividend of $0.29 on October 23rd, representing an annualized yield of 0.6% with a dividend payout ratio of 14.80%.

1832 Asset Management L.P. lifted its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 205.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,708 shares of the construction company's stock after purchasing an additional 2,493 shares during the period. 1832 Asset Management L.P.'s holdings in Simpson Manufacturing were worth $582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advantage Alpha Capital Partners LP boosted its holdings in Simpson Manufacturing by 5.8% in the first quarter. Advantage Alpha Capital Partners LP now owns 25,278 shares of the construction company's stock valued at $3,971,000 after purchasing an additional 1,383 shares during the period. Ameriprise Financial Inc. boosted its holdings in Simpson Manufacturing by 8.0% in the first quarter. Ameriprise Financial Inc. now owns 627,696 shares of the construction company's stock valued at $98,602,000 after purchasing an additional 46,290 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Simpson Manufacturing by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 388,778 shares of the construction company's stock valued at $61,070,000 after purchasing an additional 2,335 shares during the period. Northern Trust Corp boosted its holdings in Simpson Manufacturing by 0.7% in the first quarter. Northern Trust Corp now owns 556,097 shares of the construction company's stock valued at $87,352,000 after purchasing an additional 4,111 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its holdings in Simpson Manufacturing by 6.8% in the first quarter. Burgundy Asset Management Ltd. now owns 673,535 shares of the construction company's stock valued at $105,799,000 after purchasing an additional 43,099 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Down 1.1%

NYSE SSD traded down $2.03 during trading on Monday, reaching $190.91. 224,715 shares of the company's stock were exchanged, compared to its average volume of 261,357. The stock has a market cap of $7.95 billion, a P/E ratio of 24.35 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The company has a 50 day moving average price of $174.62 and a two-hundred day moving average price of $163.16. Simpson Manufacturing Company, Inc. has a 1 year low of $137.35 and a 1 year high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. The company had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.Simpson Manufacturing's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 EPS. On average, equities research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing's payout ratio is 14.80%.

Insider Transactions at Simpson Manufacturing

In other news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $196.13, for a total transaction of $196,130.00. Following the sale, the executive vice president owned 7,810 shares in the company, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the sale, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. This trade represents a 24.29% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lifted their target price on Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Simpson Manufacturing currently has an average rating of "Moderate Buy" and an average target price of $188.50.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.