Baird Financial Group Inc. Boosts Stock Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Baird Financial Group Inc. increased its stake in Simpson Manufacturing Company by 46.4% in the 1st quarter, owning a total of 28,823 shares valued at approximately $4.53 million.
• DA Davidson raised the target price for Simpson Manufacturing from $180.00 to $185.00 and assigned a "neutral" rating, while the current consensus rating is "Moderate Buy" with a target price of $188.50.
• Simpson Manufacturing declared a quarterly dividend of $0.29, with an annualized dividend yield of 0.6%, set to be paid on October 23rd to shareholders of record on October 2nd.

Baird Financial Group Inc. boosted its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 46.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,823 shares of the construction company's stock after buying an additional 9,136 shares during the period. Baird Financial Group Inc. owned approximately 0.07% of Simpson Manufacturing worth $4,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its holdings in shares of Simpson Manufacturing by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,965 shares of the construction company's stock worth $466,000 after purchasing an additional 71 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Simpson Manufacturing by 1.4% during the 1st quarter. Apollon Wealth Management LLC now owns 5,404 shares of the construction company's stock worth $849,000 after purchasing an additional 74 shares in the last quarter. Xponance Inc. lifted its position in shares of Simpson Manufacturing by 1.5% during the 1st quarter. Xponance Inc. now owns 5,262 shares of the construction company's stock worth $827,000 after buying an additional 78 shares during the period. CWM LLC lifted its position in shares of Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after buying an additional 93 shares during the period. Finally, State of Michigan Retirement System raised its position in Simpson Manufacturing by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 10,127 shares of the construction company's stock valued at $1,591,000 after purchasing an additional 100 shares during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Simpson Manufacturing Price Performance

NYSE:SSD traded down $0.35 during trading hours on Monday, reaching $195.55. 158,511 shares of the company were exchanged, compared to its average volume of 275,596. The company has a market capitalization of $8.14 billion, a P/E ratio of 24.94 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $197.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. The business has a 50 day moving average of $177.27 and a 200 day moving average of $163.64.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued 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 business had revenue of $631.06 million for 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%.The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 earnings per share. Research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is 14.80%.

Insider Buying and Selling at Simpson Manufacturing

In related news, EVP Michael Andersen sold 1,000 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the sale, the executive vice president directly owned 7,810 shares of the company's stock, valued at $1,531,775.30. The trade was a 11.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president directly owned 7,794 shares in the company, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

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.