Magnetar Financial LLC Makes New $3.30 Million Investment in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Magnetar Financial LLC opened a new position in Simpson Manufacturing (NYSE:SSD), buying 19,676 shares worth about $3.30 million in Q3, while other institutions (notably Capital World Investors) also increased stakes and overall institutional ownership stands at ~93.68%.
• Director Philip E. Donaldson sold 2,375 shares at $168.16 on December 12, cutting his holding by 28.07%; insiders now own just 0.42% of the company.
• Simpson beat Q earnings estimates with $1.35 EPS (vs. $1.26) and $539.35M revenue, announced a quarterly dividend of $0.29 (annualized $1.16, yield 0.6%), and carries an analyst consensus rating of Hold with a $207.33 target.

Magnetar Financial LLC bought a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,676 shares of the construction company's stock, valued at approximately $3,295,000.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Simpson Manufacturing by 2.2% in the third quarter. Van ECK Associates Corp now owns 34,275 shares of the construction company's stock valued at $5,740,000 after purchasing an additional 751 shares in the last quarter. Capital World Investors raised its position in Simpson Manufacturing by 101.7% in the 3rd quarter. Capital World Investors now owns 172,813 shares of the construction company's stock worth $28,939,000 after purchasing an additional 87,135 shares during the last quarter. Swiss National Bank lifted its holdings in Simpson Manufacturing by 1.1% during the 3rd quarter. Swiss National Bank now owns 81,100 shares of the construction company's stock worth $13,581,000 after buying an additional 900 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Simpson Manufacturing by 14.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 27,031 shares of the construction company's stock valued at $4,527,000 after buying an additional 3,358 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in Simpson Manufacturing by 10.7% in the 3rd quarter. Natixis Advisors LLC now owns 24,558 shares of the construction company's stock valued at $4,112,000 after buying an additional 2,367 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Philip E. Donaldson sold 2,375 shares of the company's stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $168.16, for a total value of $399,380.00. Following the completion of the sale, the director directly owned 6,086 shares of the company's stock, valued at $1,023,421.76. This represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SSD. DA Davidson boosted their target price on Simpson Manufacturing from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 11th. Weiss Ratings cut Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, March 2nd. Robert W. Baird set a $222.00 price objective on Simpson Manufacturing in a research report on Tuesday, February 10th. Wall Street Zen cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Stephens set a $200.00 target price on shares of Simpson Manufacturing in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $207.33.

Simpson Manufacturing Stock Performance

SSD stock opened at $180.85 on Thursday. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $211.98. The company has a quick ratio of 1.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.18. The company has a market cap of $7.49 billion, a P/E ratio of 21.92 and a beta of 1.35. The business's fifty day moving average is $187.62 and its 200-day moving average is $178.71.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings data on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.09. The business had revenue of $539.35 million during the quarter, compared to analysts' expectations of $530.70 million. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. Equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, April 2nd. Simpson Manufacturing's payout ratio is presently 14.06%.

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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