HighTower Advisors LLC Purchases 7,766 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• HighTower Advisors LLC increased its holdings in Simpson Manufacturing Co., Inc. by 101.1%, acquiring an additional 7,766 shares in the first quarter, bringing its total to 15,449 shares valued at approximately $2.4 million.
• A number of investment firms have significantly raised their stakes in Simpson Manufacturing, with Quantinno Capital Management leading at a 5,137.3% increase, indicating strong institutional interest.
• Simpson Manufacturing recently declared a quarterly dividend of $0.29, to be paid on October 23, with a current annualized yield of 0.6%.

HighTower Advisors LLC raised its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 101.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,449 shares of the construction company's stock after purchasing an additional 7,766 shares during the period. HighTower Advisors LLC's holdings in Simpson Manufacturing were worth $2,427,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SSD. Principal Financial Group Inc. boosted its holdings in Simpson Manufacturing by 0.4% during the first quarter. Principal Financial Group Inc. now owns 97,163 shares of the construction company's stock worth $15,262,000 after purchasing an additional 380 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Simpson Manufacturing by 163.7% in the first quarter. GAMMA Investing LLC now owns 1,171 shares of the construction company's stock valued at $184,000 after purchasing an additional 727 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Simpson Manufacturing by 708.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,590 shares of the construction company's stock valued at $2,135,000 after purchasing an additional 11,908 shares during the period. State of Alaska Department of Revenue increased its position in Simpson Manufacturing by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company's stock worth $776,000 after acquiring an additional 135 shares during the period. Finally, Blue Trust Inc. increased its position in Simpson Manufacturing by 1,070.0% during the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock worth $55,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 93.68% of the company's stock.

Simpson Manufacturing Trading Down 1.1%

NYSE:SSD traded down $2.2430 during mid-day trading on Monday, hitting $194.8370. 193,313 shares of the company's stock were exchanged, compared to its average volume of 352,982. The company has a 50 day simple moving average of $170.72 and a 200-day simple moving average of $162.32. 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 fifty-two week low of $137.35 and a fifty-two week high of $197.82. The firm has a market capitalization of $8.11 billion, a P/E ratio of 24.85 and a beta of 1.26.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its earnings results on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, topping 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 last year, the company earned $2.31 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. As a group, research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is presently 14.80%.

Insider Transactions at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the firm's stock in a transaction that occurred 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 owned 7,794 shares in the company, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson increased their price objective on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.