Dimensional Fund Advisors LP Decreases Stock Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Dimensional Fund Advisors reduced its Simpson Manufacturing stake by 0.9% in the first quarter, selling 7,845 shares and retaining 870,425 shares valued at approximately $149.4 million. Institutional investors collectively own 93.68% of SSD.
• Simpson Manufacturing reported quarterly EPS of $2.13, beating estimates of $1.84, while revenue rose 9.1% year over year to $587.96 million, above expectations.
• The company declared a quarterly dividend of $0.30, equivalent to a $1.20 annualized payout and a 0.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $214.75, compared with shares recently trading near $193.58.

Dimensional Fund Advisors LP cut its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 870,425 shares of the construction company's stock after selling 7,845 shares during the quarter. Dimensional Fund Advisors LP owned about 2.11% of Simpson Manufacturing worth $149,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SSD. EverSource Wealth Advisors LLC raised its stake in shares of Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock valued at $25,000 after acquiring an additional 92 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Simpson Manufacturing during the 4th quarter worth about $28,000. Los Angeles Capital Management LLC purchased a new position in shares of Simpson Manufacturing during the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. bought a new position in Simpson Manufacturing during the 3rd quarter valued at about $34,000. Finally, Smartleaf Asset Management LLC grew its holdings in Simpson Manufacturing by 33.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company's stock valued at $37,000 after purchasing an additional 57 shares during the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Trading Down 0.2%

Shares of SSD opened at $193.58 on Monday. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 22.69 and a beta of 1.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The company has a 50-day moving average of $192.35 and a 200 day moving average of $186.81.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.29. The business had revenue of $587.96 million for the quarter, compared to the consensus estimate of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 EPS. On average, research analysts expect that Simpson Manufacturing Company, Inc. will post 9.08 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio is 14.07%.

Wall Street Analyst Weigh In

SSD has been the subject of several analyst reports. Robert W. Baird raised their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Stephens upped their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Stifel Nicolaus increased their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Finally, DA Davidson raised their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Simpson Manufacturing has an average rating of "Moderate Buy" and an average target price of $214.75.

Simpson Manufacturing Company 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.

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