Simpson Manufacturing Company, Inc. $SSD Holdings Raised by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP significantly increased its position in Simpson Manufacturing by 458.9%, acquiring a total of 29,830 shares valued at approximately $4.68 million.
• Wall Street analysts have raised the price target for Simpson Manufacturing shares from $180.00 to $185.00 and generally maintain a "Moderate Buy" consensus on the stock.
• Simpson Manufacturing recently reported quarterly earnings of $2.47 per share, exceeding expectations, and has announced a dividend of $0.29 per share scheduled for payment on October 23rd.

Dark Forest Capital Management LP raised its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 458.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,830 shares of the construction company's stock after buying an additional 24,493 shares during the quarter. Dark Forest Capital Management LP owned approximately 0.07% of Simpson Manufacturing worth $4,686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Simpson Manufacturing in the 4th quarter valued at about $28,000. Investment Management Corp VA ADV acquired a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $28,000. Harbor Capital Advisors Inc. acquired a new position in shares of Simpson Manufacturing in the 1st quarter valued at about $45,000. CWM LLC lifted its stake in shares of Simpson Manufacturing by 39.1% in the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after purchasing an additional 93 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Simpson Manufacturing by 1,070.0% in the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Separately, DA Davidson lifted their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Simpson Manufacturing currently has an average rating of "Moderate Buy" and an average price target of $188.50.

Simpson Manufacturing Stock Up 1.5%

Simpson Manufacturing stock traded up $2.93 during midday trading on Friday, hitting $195.82. 236,024 shares of the company were exchanged, compared to its average volume of 237,674. The company's fifty day moving average price is $177.27 and its 200-day moving average price is $163.76. The company has a market cap of $8.15 billion, a PE ratio of 24.98 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82.

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

Simpson Manufacturing Dividend Announcement

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