Cooke & Bieler LP Has $20.94 Million Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Cooke & Bieler LP increased its stake in Simpson Manufacturing by 77.9% in Q4, bringing its holdings to 129,685 shares worth about $20.94 million.
• Simpson Manufacturing reported better-than-expected quarterly results, with EPS of $2.13 versus the $1.84 estimate and revenue of $587.96 million, up 9.1% year over year.
• The company raised its quarterly dividend to $0.30 per share from $0.29, and Wall Street currently rates the stock a Moderate Buy with an average target price of $214.75.

Cooke & Bieler LP lifted its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 77.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 129,685 shares of the construction company's stock after acquiring an additional 56,769 shares during the period. Cooke & Bieler LP owned approximately 0.31% of Simpson Manufacturing worth $20,940,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings in shares of Simpson Manufacturing by 70.1% in the 4th quarter. Hantz Financial Services Inc. now owns 495 shares of the construction company's stock worth $80,000 after buying an additional 204 shares in the last quarter. MQS Management LLC bought a new position in shares of Simpson Manufacturing during the fourth quarter valued at $659,000. EverSource Wealth Advisors LLC boosted its stake in shares of Simpson Manufacturing by 242.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 596 shares of the construction company's stock valued at $96,000 after purchasing an additional 422 shares in the last quarter. IFP Advisors Inc increased its position in shares of Simpson Manufacturing by 22.7% during the 4th quarter. IFP Advisors Inc now owns 864 shares of the construction company's stock worth $140,000 after purchasing an additional 160 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Simpson Manufacturing by 27.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,082 shares of the construction company's stock valued at $336,000 after purchasing an additional 444 shares during the last quarter. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Stock Performance

Shares of NYSE:SSD opened at $185.26 on Tuesday. The stock has a market capitalization of $7.62 billion, a P/E ratio of 21.72 and a beta of 1.34. Simpson Manufacturing Company, Inc. has a 1-year low of $151.38 and a 1-year high of $211.98. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $178.92 and a two-hundred day moving average price of $178.39.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The company had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same quarter last year, the firm earned $1.85 EPS. The company's revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts predict that Simpson Manufacturing Company, Inc. will post 9.18 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing's payout ratio is 13.60%.

Wall Street Analysts Forecast Growth

SSD has been the subject of several recent analyst reports. Weiss Ratings raised shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, May 12th. Stephens lifted their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Robert W. Baird increased their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. DA Davidson lifted their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Finally, Wall Street Zen lowered shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Simpson Manufacturing presently has a consensus rating of "Moderate Buy" and an average target price of $214.75.

Simpson Manufacturing 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.

Want to see what other hedge funds are holding SSD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report).

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.