Livforsakringsbolaget Skandia Omsesidigt Purchases New Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Livforsakringsbolaget Skandia Omsesidigt opened a new position in Simpson Manufacturing in Q1, buying 25,800 shares valued at about $4.42 million.
• Simpson Manufacturing recently reported better-than-expected quarterly results, posting EPS of $2.13 versus $1.84 expected and revenue of $587.96 million, with sales up 9.1% year over year.
• The company also raised its quarterly dividend to $0.30 per share, while Wall Street currently has a Hold consensus rating and an average price target of $214.75.

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 25,800 shares of the construction company's stock, valued at approximately $4,424,000. Livforsakringsbolaget Skandia Omsesidigt owned about 0.06% of Simpson Manufacturing at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SSD. Bank of Montreal Can increased its stake in shares of Simpson Manufacturing by 11,044.7% in the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company's stock valued at $109,556,000 after buying an additional 672,402 shares during the period. Norges Bank acquired a new position in shares of Simpson Manufacturing during the fourth quarter valued at $85,140,000. Victory Capital Management Inc. increased its position in Simpson Manufacturing by 6,234.7% in the fourth quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company's stock worth $64,257,000 after purchasing an additional 391,665 shares during the period. Capital International Investors increased its position in Simpson Manufacturing by 93.7% in the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company's stock worth $107,086,000 after purchasing an additional 320,870 shares during the period. Finally, ValueAct Holdings L.P. raised its holdings in Simpson Manufacturing by 21.9% during the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company's stock worth $237,707,000 after purchasing an additional 264,200 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SSD. Robert W. Baird lifted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Stephens raised their price objective on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 9th. Wall Street Zen cut shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Finally, DA Davidson increased their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $214.75.

Simpson Manufacturing Stock Performance

Shares of SSD stock opened at $188.80 on Wednesday. The stock has a market cap of $7.77 billion, a PE ratio of 22.13 and a beta of 1.30. The stock has a 50-day moving average of $191.98 and a 200-day moving average of $185.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.29. The business had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. Simpson Manufacturing's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. As a group, sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a $0.30 dividend. This is a positive change from Simpson Manufacturing's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is presently 14.07%.

Simpson Manufacturing 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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