Belpointe Asset Management LLC Makes New $1.20 Million Investment in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Belpointe Asset Management initiated a $1.2 million position in Simpson Manufacturing, purchasing 5,733 shares during the second quarter. Institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing exceeded quarterly expectations, reporting $3.09 in adjusted earnings per share on $671.08 million in revenue, with revenue rising 6.3% year over year.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a $216.25 average price target. The company also declared a $0.30 quarterly dividend, equivalent to a 0.6% annual yield.

Belpointe Asset Management LLC purchased a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,733 shares of the construction company's stock, valued at approximately $1,200,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ValueAct Holdings L.P. increased its stake in Simpson Manufacturing by 21.9% in the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company's stock valued at $237,707,000 after purchasing an additional 264,200 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Simpson Manufacturing by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company's stock worth $141,826,000 after purchasing an additional 31,744 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Simpson Manufacturing by 0.5% during the 1st quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company's stock worth $147,236,000 after purchasing an additional 4,168 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Simpson Manufacturing by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company's stock valued at $123,603,000 after buying an additional 6,869 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Simpson Manufacturing by 11,044.7% in the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company's stock valued at $109,556,000 after buying an additional 672,402 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SSD. Wall Street Zen cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. UBS Group restated a "neutral" rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Robert W. Baird upped their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. 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. Finally, Stephens lifted their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a "cautious" rating in a report on Tuesday, July 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $216.25.

Simpson Manufacturing Stock Performance

NYSE SSD opened at $193.40 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 2.14. The stock has a market capitalization of $7.96 billion, a PE ratio of 21.14 and a beta of 1.31. The company's 50 day simple moving average is $194.59 and its two-hundred day simple moving average is $188.12.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The firm had revenue of $671.08 million for the quarter, compared to analysts' expectations of $658.76 million. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The business's quarterly revenue was up 6.3% on a year-over-year basis. Analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 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 22nd. Shareholders of record on Thursday, October 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio is currently 13.11%.

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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