BlackRock Inc. Invests $862.14 Million in Simpson Manufacturing Company, Inc. $SSD

BlackRock Inc. purchased a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,118,164 shares of the construction company's stock, valued at approximately $862,138,000. BlackRock Inc. owned approximately 10.01% of Simpson Manufacturing as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SSD. Bank of Montreal Can boosted its stake in Simpson Manufacturing by 11,044.7% in the fourth quarter. Bank of Montreal Can now owns 678,490 shares of the construction company's stock valued at $109,556,000 after acquiring an additional 672,402 shares during the period. Norges Bank acquired a new stake in shares of Simpson Manufacturing during the 4th quarter worth approximately $85,140,000. Victory Capital Management Inc. lifted its holdings in shares of Simpson Manufacturing by 6,234.7% in the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company's stock worth $64,257,000 after purchasing an additional 391,665 shares during the last quarter. Capital International Investors boosted its position in Simpson Manufacturing by 93.7% during the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company's stock valued at $107,086,000 after purchasing an additional 320,870 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Simpson Manufacturing during the 2nd quarter valued at approximately $59,197,000. Institutional investors own 93.68% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SSD. Weiss Ratings raised Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Wall Street Zen cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. UBS Group reissued a "neutral" rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Robert W. Baird raised their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $216.25.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $188.66 on Friday. The company has a market capitalization of $7.76 billion, a PE ratio of 20.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The company's 50 day moving average price is $194.66 and its 200 day moving average price is $188.55. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $658.76 million. During the same period in the prior year, the company posted $2.47 earnings per share. Simpson Manufacturing's revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business 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 $0.30 dividend. This represents a $1.20 annualized dividend and a dividend 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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