California State Teachers Retirement System Purchases 8,010 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• California State Teachers Retirement System increased its Simpson Manufacturing stake by 20.3%, purchasing 8,010 shares to reach 47,538 shares valued at approximately $8.16 million. Institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing reported quarterly EPS of $3.09, exceeding estimates of $2.72, while revenue rose 6.3% year over year to $671.08 million. Shares opened at $196.53, with a market capitalization of about $8.09 billion.
• Analysts maintain a broadly cautious outlook, with an average rating of “Hold” and a consensus price target of $216.25. The company also announced a quarterly dividend of $0.30 per share, representing a 0.6% annualized yield.

California State Teachers Retirement System boosted its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,538 shares of the construction company's stock after purchasing an additional 8,010 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Simpson Manufacturing worth $8,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock worth $25,000 after purchasing an additional 92 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Simpson Manufacturing during the fourth quarter worth about $28,000. Los Angeles Capital Management LLC purchased a new position in shares of Simpson Manufacturing in the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. bought a new position in shares of Simpson Manufacturing during the 3rd quarter valued at about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Simpson Manufacturing in the first quarter worth approximately $37,000. Institutional investors own 93.68% of the company's stock.

Analyst Upgrades and Downgrades

SSD has been the subject of several analyst reports. 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 research report on Tuesday, July 28th. Weiss Ratings raised shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research note 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 reaffirmed a "neutral" rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Finally, Stifel Nicolaus boosted their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a report on Monday. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Simpson Manufacturing presently has an average rating of "Hold" and an average price target of $216.25.

Simpson Manufacturing Stock Up 2.3%

Shares of Simpson Manufacturing stock opened at $196.53 on Wednesday. The company has a 50-day simple moving average of $193.42 and a two-hundred day simple moving average of $187.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. Simpson Manufacturing Company, Inc. has a 52-week low of $156.32 and a 52-week high of $213.49. The stock has a market capitalization of $8.09 billion, a PE ratio of 21.48 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.72 by $0.37. The firm had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The company's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 earnings per share. On average, analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.11 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio (DPR) is presently 13.11%.

Simpson Manufacturing Company Profile

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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