Brown Advisory Inc. Raises Stock Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Brown Advisory Inc. boosted its stake in Simpson Manufacturing by 67% in the fourth quarter, ending with 327,606 shares valued at about $52.9 million.
• Simpson Manufacturing posted a strong quarter, with EPS of $2.13 and revenue of $587.96 million, both above analyst expectations. Revenue also rose 9.1% year over year.
• The company raised its quarterly dividend to $0.30 per share from $0.29, while analysts currently rate the stock a Moderate Buy with an average price target of $214.75.

Brown Advisory Inc. increased its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 67.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,606 shares of the construction company's stock after purchasing an additional 131,381 shares during the period. Brown Advisory Inc. owned approximately 0.79% of Simpson Manufacturing worth $52,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Simpson Manufacturing by 51.3% during the first quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock valued at $798,000 after buying an additional 1,726 shares during the period. Integrated Wealth Concepts LLC grew its position in Simpson Manufacturing by 11.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock valued at $427,000 after buying an additional 286 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Simpson Manufacturing during the first quarter valued at $531,000. Goldman Sachs Group Inc. grew its position in Simpson Manufacturing by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock valued at $33,327,000 after buying an additional 64,114 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Simpson Manufacturing by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company's stock valued at $19,022,000 after buying an additional 12,865 shares during the period. Hedge funds and other institutional investors own 93.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, May 12th. Stifel Nicolaus raised their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Wall Street Zen lowered shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. DA Davidson raised their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Finally, Stephens raised their price target on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Simpson Manufacturing has an average rating of "Moderate Buy" and an average price target of $214.75.

Simpson Manufacturing Stock Down 0.3%

Shares of NYSE SSD opened at $192.48 on Monday. The company's 50-day simple moving average is $183.61 and its 200-day simple moving average is $180.84. Simpson Manufacturing Company, Inc. has a 52-week low of $151.38 and a 52-week high of $211.98. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 22.57 and a beta of 1.32. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.29. The firm had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. Simpson Manufacturing's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.85 earnings per share. Equities analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, July 2nd. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.29. 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 13.60%.

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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