Candriam S.C.A. Makes New $7.13 Million Investment in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Candriam S.C.A. initiated a new position in Simpson Manufacturing, buying 41,560 shares valued at about $7.13 million in the first quarter.
• Simpson Manufacturing reported better-than-expected quarterly results, with EPS of $2.13 versus $1.84 expected and revenue of $587.96 million, up 9.1% year over year.
• The company also raised its quarterly dividend to $0.30 per share from $0.29, while analysts currently rate the stock a Hold with a consensus target price of $214.75.

Candriam S.C.A. acquired a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 41,560 shares of the construction company's stock, valued at approximately $7,133,000. Candriam S.C.A. owned about 0.10% of Simpson Manufacturing as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SSD. Cooke & Bieler LP boosted its position in shares of Simpson Manufacturing by 77.9% in the 4th quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company's stock valued at $20,940,000 after purchasing an additional 56,769 shares during the period. Westview Management dba Westview Investment Advisors acquired a new stake in Simpson Manufacturing during the 4th quarter worth about $2,074,000. Comerica Bank raised its holdings in Simpson Manufacturing by 21.6% during the 4th quarter. Comerica Bank now owns 123,375 shares of the construction company's stock worth $19,921,000 after buying an additional 21,889 shares during the period. SG Americas Securities LLC lifted its stake in Simpson Manufacturing by 2,359.1% during the fourth quarter. SG Americas Securities LLC now owns 62,364 shares of the construction company's stock valued at $10,070,000 after buying an additional 59,828 shares in the last quarter. Finally, Brown Advisory Inc. lifted its stake in Simpson Manufacturing by 67.0% during the fourth quarter. Brown Advisory Inc. now owns 327,606 shares of the construction company's stock valued at $52,899,000 after buying an additional 131,381 shares in the last quarter. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Stock Up 0.0%

SSD stock opened at $188.86 on Monday. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The company has a fifty day simple moving average of $192.11 and a 200 day simple moving average of $185.17. The firm has a market cap of $7.77 billion, a PE ratio of 22.14 and a beta of 1.30.

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

Simpson Manufacturing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Simpson Manufacturing's previous quarterly dividend of $0.29. Simpson Manufacturing's payout ratio is currently 14.07%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SSD shares. Stifel Nicolaus boosted their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Weiss Ratings downgraded Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. Robert W. Baird raised their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Stephens lifted their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen downgraded shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Simpson Manufacturing currently has a consensus rating of "Hold" and a consensus target price of $214.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.