California State Teachers Retirement System Acquires 9,869,790 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• California State Teachers Retirement System acquired an additional 9.87 million Simpson Manufacturing shares, bringing its stake to 9.92 million shares, or 24.11% of the company, valued at approximately $2.08 billion.
• Simpson Manufacturing reported quarterly earnings of $3.09 per share, exceeding estimates of $2.72, while revenue rose 6.3% year over year to $671.08 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $216.25; the company also declared a quarterly dividend of $0.30 per share, representing a 0.7% yield.

California State Teachers Retirement System increased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 20,761.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,917,328 shares of the construction company's stock after purchasing an additional 9,869,790 shares during the quarter. California State Teachers Retirement System owned 24.11% of Simpson Manufacturing worth $2,076,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in shares of Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company's stock valued at $37,000 after buying an additional 57 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Simpson Manufacturing by 0.6% in the 4th quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company's stock valued at $1,981,000 after acquiring an additional 77 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Simpson Manufacturing by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company's stock valued at $4,236,000 after acquiring an additional 89 shares during the period. HB Wealth Management LLC boosted its holdings in Simpson Manufacturing by 6.0% during the 2nd quarter. HB Wealth Management LLC now owns 1,598 shares of the construction company's stock valued at $335,000 after acquiring an additional 90 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 92 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SSD has been the topic of a number of analyst reports. Wall Street Zen cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Stifel Nicolaus raised their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. UBS Group reaffirmed a "neutral" rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Finally, Stephens upped their price target 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 research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $216.25.

Simpson Manufacturing Trading Up 0.5%

SSD opened at $173.33 on Friday. The business has a 50 day simple moving average of $188.14 and a two-hundred day simple moving average of $186.55. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 18.94 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $671.08 million during the quarter, compared to analysts' expectations of $658.76 million. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The business's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. Analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors 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 0.7%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio is presently 13.11%.

Insider Buying and Selling

In other Simpson Manufacturing news, CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total transaction of $605,285.68. Following the sale, the chief executive officer directly owned 51,398 shares of the company's stock, valued at approximately $8,883,630.32. The trade was a 6.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company's product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.

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