Entropy Technologies LP Makes New Investment in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Entropy Technologies LP acquired 2,298 shares of Simpson Manufacturing Company, valued at approximately $361,000, during the first quarter of the year.
• The company recently reported $2.47 earnings per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.29 per share to be paid on October 23rd.
• DA Davidson has updated their target price for Simpson Manufacturing shares from $180.00 to $185.00 while maintaining a "neutral" rating.

Entropy Technologies LP acquired a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,298 shares of the construction company's stock, valued at approximately $361,000.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Simpson Manufacturing during the fourth quarter valued at approximately $28,000. Investment Management Corp VA ADV bought a new position in shares of Simpson Manufacturing during the fourth quarter valued at approximately $28,000. Harbor Capital Advisors Inc. bought a new position in shares of Simpson Manufacturing during the first quarter valued at approximately $45,000. CWM LLC boosted its stake in shares of Simpson Manufacturing by 39.1% during the first 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. boosted its stake in shares of Simpson Manufacturing by 1,070.0% during the first 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.

Simpson Manufacturing Stock Performance

NYSE:SSD traded up $2.57 during trading hours on Tuesday, hitting $190.61. 31,065 shares of the company were exchanged, compared to its average volume of 276,978. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 24.34 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. The company's 50 day moving average price is $167.23 and its 200-day moving average price is $161.41.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The business had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. During the same period in the prior year, the firm earned $2.31 EPS. The business's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio is currently 14.80%.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $178.27, for a total transaction 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. This represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Separately, DA Davidson lifted their price objective on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $188.50.

Simpson Manufacturing Company 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.