Ceredex Value Advisors LLC Buys Shares of 45,200 Simpson Manufacturing Company, Inc. $SSD

Key Points

• Ceredex Value Advisors initiated a stake of 45,200 Simpson Manufacturing shares valued at approximately $9.5 million, while institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing reported quarterly EPS of $3.09, exceeding estimates by $0.37, with revenue rising 6.3% year over year to $671.08 million. The company also declared a quarterly dividend of $0.30 per share, representing a 0.6% annualized yield.
• Analyst opinions remain mixed, with the stock carrying an average “Hold” rating and an average price target of $216.25, compared with a recent share price of $188.66.

Ceredex Value Advisors LLC bought a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 45,200 shares of the construction company's stock, valued at approximately $9,463,000. Ceredex Value Advisors LLC owned about 0.11% of Simpson Manufacturing as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SSD. Candriam S.C.A. bought a new stake in Simpson Manufacturing during the 1st quarter valued at about $7,133,000. Cooke & Bieler LP raised its holdings in Simpson Manufacturing by 77.9% in the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company's stock worth $20,940,000 after buying an additional 56,769 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Simpson Manufacturing during the first quarter valued at approximately $4,424,000. Comerica Bank grew its holdings in shares of Simpson Manufacturing by 21.6% during the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company's stock valued at $19,921,000 after buying an additional 21,889 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of 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 acquiring an additional 131,381 shares in the last quarter. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Stock Up 0.4%

Simpson Manufacturing stock opened at $188.66 on Friday. The stock has a market cap of $7.76 billion, a PE ratio of 20.62 and a beta of 1.31. 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 one year low of $156.32 and a one year high of $213.49. The stock has a fifty day moving average of $194.66 and a 200 day moving average of $188.55.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.37. The business had revenue of $671.08 million for 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 for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.47 earnings per share. As a group, sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio is 13.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SSD shares. Stephens upped their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the company a "cautious" rating in a research report on Tuesday, July 28th. Stifel Nicolaus lifted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Wall Street Zen cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Robert W. Baird upped their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings raised Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $216.25.

About Simpson Manufacturing

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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