Jupiter Topco LLC Invests $3.83 Million in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Jupiter Topco LLC acquired 18,295 shares of Simpson Manufacturing worth approximately $3.83 million during the second quarter. Institutional investors collectively own 93.68% of the company.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a consensus price target of $216.25; individual ratings range from “Sell” to “Buy.”
• Simpson Manufacturing exceeded quarterly expectations, reporting EPS of $3.09 versus the $2.72 consensus and revenue of $671.08 million, up 6.3% year over year. The company also declared a quarterly dividend of $0.30 per share.

Jupiter Topco LLC bought a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,295 shares of the construction company's stock, valued at approximately $3,832,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock worth $25,000 after purchasing an additional 92 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Simpson Manufacturing during the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. bought a new stake in shares of Simpson Manufacturing during the third quarter valued at approximately $34,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Simpson Manufacturing in the first quarter worth $37,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Simpson Manufacturing by 33.7% in 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 in the last quarter. Institutional investors own 93.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SSD. UBS Group reaffirmed a "neutral" rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stephens boosted their price target on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a "cautious" rating in a research note on Tuesday, July 28th. Stifel Nicolaus increased their price objective 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. Wall Street Zen cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Finally, Weiss Ratings upgraded Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $216.25.

Simpson Manufacturing Trading Down 3.4%

Shares of NYSE SSD opened at $176.42 on Wednesday. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. The business's 50 day moving average is $192.73 and its two-hundred day moving average is $187.99. The stock has a market capitalization of $7.26 billion, a P/E ratio of 19.28 and a beta of 1.31.

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

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio is presently 13.11%.

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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