Ceredex Value Advisors LLC Has $10.47 Million Stock Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Ceredex Value Advisors LLC has increased its stake in Simpson Manufacturing by 3.1%, acquiring an additional 2,000 shares, bringing its total to 66,650 shares worth approximately $10.47 million.
• Simpson Manufacturing recently reported earnings of $2.47 EPS, exceeding estimates, with quarterly revenue of $631.06 million, which is a 5.7% increase year-over-year.
• The company announced a quarterly dividend of $0.29 per share to be paid on October 23, indicating a 0.6% yield and a payout ratio of 14.80%.

Ceredex Value Advisors LLC boosted its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,650 shares of the construction company's stock after purchasing an additional 2,000 shares during the period. Ceredex Value Advisors LLC owned approximately 0.16% of Simpson Manufacturing worth $10,469,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Simpson Manufacturing by 0.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,534,724 shares of the construction company's stock valued at $712,314,000 after buying an additional 40,461 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Simpson Manufacturing by 15.2% in the 1st quarter. Synovus Financial Corp now owns 4,062 shares of the construction company's stock worth $638,000 after acquiring an additional 537 shares during the last quarter. Walleye Trading LLC raised its position in shares of Simpson Manufacturing by 13.5% during the first quarter. Walleye Trading LLC now owns 1,589 shares of the construction company's stock worth $250,000 after purchasing an additional 189 shares during the period. Jump Financial LLC purchased a new stake in shares of Simpson Manufacturing during the first quarter valued at $357,000. Finally, Cadence Bank boosted its position in shares of Simpson Manufacturing by 4.9% in the 1st quarter. Cadence Bank now owns 6,724 shares of the construction company's stock valued at $1,056,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 93.68% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction on Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the sale, the executive vice president owned 7,794 shares of the company's stock, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president directly owned 7,810 shares in the company, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company's stock.

Simpson Manufacturing Stock Down 1.1%

NYSE:SSD traded down $2.03 during trading hours on Monday, hitting $190.91. 224,715 shares of the company's stock traded hands, compared to its average volume of 261,357. The stock's fifty day moving average price is $173.96 and its two-hundred day moving average price is $163.04. The firm has a market cap of $7.95 billion, a P/E ratio of 24.35 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.08. The company had revenue of $631.06 million for the quarter, compared to analysts' expectations of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 EPS. On average, research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

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

About Simpson Manufacturing

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.