Burgundy Asset Management Ltd. Has $105.80 Million Stock Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Burgundy Asset Management Ltd. increased its stake in Simpson Manufacturing by 6.8%, now owning approximately 1.60% of the company, with a total value of $105.8 million.
• Simpson Manufacturing reported a quarterly EPS of $2.47, exceeding analysts' expectations, and its revenue for the quarter was up 5.7% year-over-year, totaling $631.06 million.
• The company announced a quarterly dividend of $0.29 per share, with the payout date set for October 23rd, representing a 0.6% yield.

Burgundy Asset Management Ltd. boosted its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 673,535 shares of the construction company's stock after purchasing an additional 43,099 shares during the period. Burgundy Asset Management Ltd. owned 1.60% of Simpson Manufacturing worth $105,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new position in Simpson Manufacturing in the 4th quarter worth about $28,000. Investment Management Corp VA ADV acquired a new position in Simpson Manufacturing in the 4th quarter worth about $28,000. Harbor Capital Advisors Inc. acquired a new position in Simpson Manufacturing in the 1st quarter worth about $45,000. CWM LLC increased its holdings in Simpson Manufacturing by 39.1% in the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after purchasing an additional 93 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Simpson Manufacturing by 1,070.0% in the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock worth $55,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

Insider Activity at Simpson Manufacturing

In related news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing 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 of the company's stock, valued at $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Simpson Manufacturing Trading Up 4.5%

Shares of Simpson Manufacturing stock traded up $8.5520 during midday trading on Friday, reaching $197.2320. The company had a trading volume of 112,057 shares, compared to its average volume of 278,802. The stock has a fifty day moving average price of $169.11 and a 200 day moving average price of $161.96. 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 firm has a market cap of $8.21 billion, a PE ratio of 25.10 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. The company had revenue of $631.06 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share. On average, equities analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

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

Simpson Manufacturing 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.