Bank of America Corp DE Has $49.99 Million Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Bank of America increased its Simpson Manufacturing stake by 4% in the first quarter, owning 291,314 shares valued at approximately $49.99 million. Institutional investors collectively hold 93.68% of the company.
• Simpson Manufacturing reported quarterly EPS of $3.09, exceeding the $2.72 analyst consensus, while revenue rose 6.3% year over year to $671.08 million.
• The company declared a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 payout and a 0.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $216.25.

Bank of America Corp DE raised its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 291,314 shares of the construction company's stock after buying an additional 11,272 shares during the period. Bank of America Corp DE owned about 0.71% of Simpson Manufacturing worth $49,995,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SSD. EverSource Wealth Advisors LLC boosted its holdings in shares of Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock worth $25,000 after buying an additional 92 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Simpson Manufacturing during the fourth quarter valued at about $28,000. Los Angeles Capital Management LLC bought a new stake in Simpson Manufacturing during the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. bought a new stake in Simpson Manufacturing during the third quarter worth $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Simpson Manufacturing in the 1st quarter valued at about $37,000. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Stock Performance

Shares of Simpson Manufacturing stock opened at $199.68 on Wednesday. The company has a market capitalization of $8.21 billion, a PE ratio of 21.82 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49. The stock's fifty day moving average is $194.13 and its two-hundred day moving average is $187.93. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company had revenue of $671.08 million during the quarter, compared to analyst estimates of $658.76 million. During the same quarter last year, the business posted $2.47 EPS. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be paid 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 dividend yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is currently 13.11%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Stifel Nicolaus increased their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Robert W. Baird upped their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. UBS Group reissued a "neutral" rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Finally, DA Davidson raised their price objective on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Simpson Manufacturing has an average rating of "Hold" and a consensus price target of $216.25.

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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