Edgestream Partners L.P. Makes New Investment in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Edgestream Partners L.P. acquired 13,049 shares of Simpson Manufacturing during the first quarter, valued at approximately $2.24 million. Institutional investors and hedge funds collectively own 93.68% of the company.
• Simpson Manufacturing reported quarterly EPS of $3.09, beating estimates of $2.72, while revenue rose 6.3% year over year to $671.08 million. Analysts have a consensus “Hold” rating and an average price target of $216.
• The company declared a quarterly dividend of $0.30 per share, equal to $1.20 annually and a 0.6% yield; shares recently opened at $187.70.

Edgestream Partners L.P. acquired a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,049 shares of the construction company's stock, valued at approximately $2,239,000.

Several other institutional investors have also modified their holdings of SSD. EverSource Wealth Advisors LLC raised its position in shares of Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock worth $25,000 after purchasing an additional 92 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Simpson Manufacturing in the 4th quarter valued at about $28,000. Los Angeles Capital Management LLC acquired a new stake in Simpson Manufacturing in the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. acquired a new stake in Simpson Manufacturing in the 3rd quarter worth about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Simpson Manufacturing during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 93.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings raised Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Stifel Nicolaus lifted their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Stephens boosted their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a "cautious" rating in a research report on Tuesday, July 28th. DA Davidson increased their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Finally, UBS Group restated a "neutral" rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $216.00.

Simpson Manufacturing Stock Down 0.0%

Shares of NYSE SSD opened at $187.70 on Monday. The stock has a market cap of $7.72 billion, a PE ratio of 20.51 and a beta of 1.31. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15. Simpson Manufacturing Company, Inc. has a 12-month low of $156.32 and a 12-month high of $213.49. The company has a 50-day moving average of $193.14 and a 200 day moving average of $187.43.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.72 by $0.37. The business had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business's revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $2.47 EPS. As a group, sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.11 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio (DPR) is currently 13.11%.

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.

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.