Advantage Alpha Capital Partners LP Buys 1,383 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Advantage Alpha Capital Partners LP increased its stake in Simpson Manufacturing Company, purchasing an additional 1,383 shares and owning approximately 0.06% of the company, valued at $3.97 million.
• DA Davidson raised the price target for Simpson Manufacturing from $180.00 to $185.00, maintaining a "neutral" rating, while the average rating is categorized as "Moderate Buy" with a consensus target price of $188.50.
• Simpson Manufacturing is set to pay a quarterly dividend of $0.29 on October 23, which translates to an annualized dividend of $1.16 and a yield of 0.6%.

Advantage Alpha Capital Partners LP lifted its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,278 shares of the construction company's stock after acquiring an additional 1,383 shares during the period. Advantage Alpha Capital Partners LP owned about 0.06% of Simpson Manufacturing worth $3,971,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. grew its position in Simpson Manufacturing by 8.0% during the 1st quarter. Ameriprise Financial Inc. now owns 627,696 shares of the construction company's stock worth $98,602,000 after purchasing an additional 46,290 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 in the last quarter. Northern Trust Corp lifted its holdings in shares of 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 in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Simpson Manufacturing by 6.8% in the first quarter. Burgundy Asset Management Ltd. now owns 673,535 shares of the construction company's stock worth $105,799,000 after buying an additional 43,099 shares during the period. Finally, RMR Capital Management LLC grew its holdings in shares of Simpson Manufacturing by 42.8% during the first quarter. RMR Capital Management LLC now owns 2,885 shares of the construction company's stock valued at $453,000 after buying an additional 865 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson increased their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $188.50.

Insider Buying and Selling

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $178.27, for a total transaction of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. This represents a 24.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Simpson Manufacturing Stock Down 1.1%

Shares of NYSE SSD traded down $2.2430 during mid-day trading on Monday, reaching $194.8370. The company had a trading volume of 193,313 shares, compared to its average volume of 279,145. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82. The stock's 50 day moving average is $169.94 and its 200-day moving average is $162.11. The stock has a market capitalization of $8.11 billion, a PE ratio of 24.85 and a beta of 1.26.

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

Simpson Manufacturing Dividend Announcement

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

Simpson Manufacturing Company Profile

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.