Simpson Manufacturing Company, Inc. (NYSE:SSD) Shares Bought by ING Groep NV

Key Points

• ING Groep NV significantly increased its stake in Simpson Manufacturing, raising its holdings by 355.9% to approximately 31,000 shares worth $4.87 million.
• Simpson Manufacturing recently announced a quarterly dividend of $0.29 per share, representing a 0.6% yield, with the payment date set for October 23rd.
• DA Davidson has upgraded Simpson Manufacturing’s price target from $180 to $185 while maintaining a "neutral" rating on the stock.

ING Groep NV raised its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 355.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,000 shares of the construction company's stock after purchasing an additional 24,200 shares during the period. ING Groep NV owned 0.07% of Simpson Manufacturing worth $4,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Argent Trust Co increased its position in Simpson Manufacturing by 12.7% during the 1st quarter. Argent Trust Co now owns 1,551 shares of the construction company's stock valued at $244,000 after buying an additional 175 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Simpson Manufacturing by 11.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,824 shares of the construction company's stock valued at $286,000 after purchasing an additional 181 shares in the last quarter. US Bancorp DE increased its position in shares of Simpson Manufacturing by 6.6% in the 1st quarter. US Bancorp DE now owns 5,154 shares of the construction company's stock valued at $810,000 after acquiring an additional 321 shares during the period. Bayforest Capital Ltd purchased a new position in Simpson Manufacturing in the 1st quarter worth $72,000. Finally, Vestcor Inc raised its stake in Simpson Manufacturing by 39.1% in the 1st quarter. Vestcor Inc now owns 2,976 shares of the construction company's stock worth $467,000 after acquiring an additional 836 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, DA Davidson lifted their target price on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th.

Insider Buying and Selling

In related news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the transaction, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. The trade was a 24.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.42% of the company's stock.

Simpson Manufacturing Stock Performance

Shares of NYSE:SSD traded down $0.96 during midday trading on Friday, reaching $181.07. The company's stock had a trading volume of 227,015 shares, compared to its average volume of 279,541. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average of $163.07 and a 200 day moving average of $160.55. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82. The firm has a market capitalization of $7.57 billion, a PE ratio of 23.10 and a beta of 1.26.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.08. The company had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $2.31 EPS. On average, equities analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

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

About Simpson Manufacturing

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.