Dark Forest Capital Management LP Purchases 24,493 Shares of Simpson Manufacturing Company, Inc. $SSD

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

A number of other large investors have also recently modified their holdings of SSD. Quarry LP bought a new stake in shares of Simpson Manufacturing during the 4th quarter valued at about $28,000. Investment Management Corp VA ADV purchased a new position in shares of Simpson Manufacturing during the 4th quarter valued at about $28,000. Harbor Capital Advisors Inc. purchased a new position in shares of Simpson Manufacturing during the 1st quarter valued at about $45,000. CWM LLC raised its holdings in shares of Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after buying an additional 93 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after buying an additional 321 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Analyst Ratings Changes

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

Simpson Manufacturing Trading Up 1.5%

SSD stock traded up $2.93 during midday trading on Friday, hitting $195.82. The company had a trading volume of 236,024 shares, compared to its average volume of 238,125. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82. The stock's 50 day moving average price is $177.27 and its 200 day moving average price is $163.64. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 24.98 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings data 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. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The firm had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. During the same quarter in the previous year, the company posted $2.31 earnings per share. The business's revenue was up 5.7% on a year-over-year basis. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders 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 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing's payout ratio is 14.80%.

Insider Activity at Simpson Manufacturing

In other news, EVP Michael Andersen sold 1,000 shares of the business'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 transaction of $196,130.00. Following the transaction, the executive vice president directly owned 7,810 shares of the company's stock, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeremy Gilstrap sold 2,500 shares of the firm's stock in a transaction 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 transaction, the executive vice president directly owned 7,794 shares of the company's stock, valued at $1,389,436.38. This represents a 24.29% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Simpson Manufacturing Profile

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.