ING Groep NV Buys 24,200 Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD)

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 grew its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 355.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,000 shares of the construction company's stock after purchasing an additional 24,200 shares during the period. ING Groep NV owned approximately 0.07% of Simpson Manufacturing worth $4,869,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SSD. Ameriprise Financial Inc. grew its position in shares of Simpson Manufacturing by 90.4% during the fourth quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company's stock valued at $96,405,000 after purchasing an additional 275,989 shares in the last quarter. Quantinno Capital Management LP grew its position in Simpson Manufacturing by 5,137.3% in the fourth quarter. Quantinno Capital Management LP now owns 270,349 shares of the construction company's stock worth $44,832,000 after acquiring an additional 265,187 shares in the last quarter. Champlain Investment Partners LLC grew its position in Simpson Manufacturing by 300.2% in the fourth quarter. Champlain Investment Partners LLC now owns 336,051 shares of the construction company's stock worth $55,727,000 after acquiring an additional 252,085 shares in the last quarter. GAMMA Investing LLC grew its position in Simpson Manufacturing by 41,328.2% in the first quarter. GAMMA Investing LLC now owns 183,941 shares of the construction company's stock worth $28,893,000 after acquiring an additional 183,497 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in Simpson Manufacturing by 4,755.8% in the fourth quarter. Brown Advisory Inc. now owns 168,302 shares of the construction company's stock worth $27,910,000 after acquiring an additional 164,836 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Trading Down 0.5%

SSD traded down $0.96 on Friday, hitting $181.07. The company had a trading volume of 227,015 shares, compared to its average volume of 319,639. The company has a market cap of $7.57 billion, a PE ratio of 23.10 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $197.82. 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 business's fifty day simple moving average is $163.57 and its 200 day simple moving average is $160.62.

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

Simpson Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

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

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 dated Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the sale, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by insiders.

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.