Fortis Capital Advisors LLC Invests $1.20 Million in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Fortis Capital Advisors acquired 5,733 shares of Simpson Manufacturing worth approximately $1.2 million, while institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing exceeded quarterly expectations, reporting $3.09 EPS versus the $2.72 consensus and revenue of $671.08 million, up 6.3% year over year.
• The company declared a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 payout and a 0.6% yield; analysts maintain a consensus “Hold” rating with a $216.25 price target.

Fortis Capital Advisors LLC acquired a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,733 shares of the construction company's stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company's stock worth $37,000 after buying an additional 57 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in Simpson Manufacturing by 0.6% during the 4th quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company's stock worth $1,981,000 after acquiring an additional 77 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Simpson Manufacturing by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company's stock worth $4,236,000 after acquiring an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 92 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Simpson Manufacturing by 3.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,613 shares of the construction company's stock worth $422,000 after purchasing an additional 92 shares during the period. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Stock Down 1.0%

Shares of Simpson Manufacturing stock opened at $193.40 on Friday. The firm has a market cap of $7.96 billion, a PE ratio of 21.14 and a beta of 1.31. The business's 50 day simple moving average is $194.59 and its 200 day simple moving average is $188.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. Simpson Manufacturing Company, Inc. has a 52-week low of $156.32 and a 52-week high of $213.49.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.37. The company had revenue of $671.08 million during the quarter, compared to analysts' expectations of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.47 EPS. On average, analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio is currently 13.11%.

Analyst Ratings Changes

SSD has been the subject of several research analyst reports. Stifel Nicolaus boosted their price target on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a report on Monday, August 3rd. UBS Group restated a "neutral" rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Stephens lifted their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the company a "cautious" rating in a report on Tuesday, July 28th. Wall Street Zen lowered Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Finally, DA Davidson increased their target price 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 investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $216.25.

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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