Argent Capital Management LLC Purchases 19,097 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Argent Capital Management increased its Simpson Manufacturing position by 31.5%, buying 19,097 shares to hold 79,773 shares worth approximately $13.7 million. Institutional investors collectively own 93.68% of SSD.
• Simpson Manufacturing reported a strong quarter, with earnings per share of $3.09 beating estimates of $2.72 and revenue of $671.08 million exceeding forecasts; revenue rose 6.3% year over year.
• The company declared a quarterly dividend of $0.30 per share, equating to an annualized $1.20 payout and a 0.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $216, versus a recent share price of $187.70.

Argent Capital Management LLC raised its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 31.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,773 shares of the construction company's stock after purchasing an additional 19,097 shares during the quarter. Argent Capital Management LLC owned 0.19% of Simpson Manufacturing worth $13,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank of America Corp DE grew its stake in Simpson Manufacturing by 4.0% in the 1st quarter. Bank of America Corp DE now owns 291,314 shares of the construction company's stock worth $49,995,000 after acquiring an additional 11,272 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Simpson Manufacturing during the 1st quarter valued at about $2,239,000. Janus Henderson Group PLC increased its holdings in Simpson Manufacturing by 1.5% during the first quarter. Janus Henderson Group PLC now owns 18,566 shares of the construction company's stock valued at $3,184,000 after buying an additional 271 shares during the period. Amundi increased its holdings in shares of Simpson Manufacturing by 124.1% in the 1st quarter. Amundi now owns 3,679 shares of the construction company's stock valued at $631,000 after acquiring an additional 2,037 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Simpson Manufacturing by 20.3% in the 1st quarter. California State Teachers Retirement System now owns 47,538 shares of the construction company's stock worth $8,158,000 after acquiring an additional 8,010 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Stock Performance

Shares of NYSE:SSD opened at $187.70 on Friday. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.02. The business's 50 day moving average price is $193.14 and its 200-day moving average price is $187.38. The firm has a market capitalization of $7.72 billion, a PE ratio of 20.51 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.37. The business had revenue of $671.08 million during the quarter, compared to analyst estimates of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.47 earnings per share. As a group, equities research analysts expect that Simpson Manufacturing Company, Inc. will post 9.11 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is presently 13.11%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SSD shares. Wall Street Zen lowered shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Stifel Nicolaus raised 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. Stephens lifted their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a "cautious" rating in a research report on Tuesday. Robert W. Baird lifted their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings raised Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $216.00.

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.

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