Man Group plc Invests $5.35 Million in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Man Group initiated a $5.35 million position in Simpson Manufacturing during the second quarter, purchasing 25,556 shares. Institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing reported quarterly earnings of $3.09 per share, beating estimates by $0.37, while revenue rose 6.3% year over year to $671.08 million.
• The company declared a quarterly dividend of $0.30 per share, equal to an annualized $1.20 payout and a 0.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $216.25.

Man Group plc bought a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 25,556 shares of the construction company's stock, valued at approximately $5,350,000. Man Group plc owned about 0.06% of Simpson Manufacturing at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SSD. BlackRock Inc. bought a new stake in Simpson Manufacturing during the 2nd quarter worth approximately $862,138,000. Bank of Montreal Can lifted its holdings in shares of Simpson Manufacturing by 11,044.7% in the fourth quarter. Bank of Montreal Can now owns 678,490 shares of the construction company's stock valued at $109,556,000 after purchasing an additional 672,402 shares in the last quarter. Norges Bank purchased a new position in shares of Simpson Manufacturing during the fourth quarter valued at approximately $85,140,000. Victory Capital Management Inc. boosted its position in shares of Simpson Manufacturing by 6,234.7% during the fourth quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company's stock valued at $64,257,000 after buying an additional 391,665 shares during the last quarter. Finally, Capital International Investors grew its holdings in Simpson Manufacturing by 93.7% during the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company's stock worth $107,086,000 after buying an additional 320,870 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Stock Performance

NYSE SSD opened at $182.04 on Monday. Simpson Manufacturing Company, Inc. has a 52-week low of $156.32 and a 52-week high of $213.49. The company has a 50-day simple moving average of $193.49 and a 200 day simple moving average of $188.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The company has a market capitalization of $7.49 billion, a PE ratio of 19.90 and a beta of 1.31.

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

Simpson Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio (DPR) is currently 13.11%.

Analyst Ratings Changes

A number of equities research analysts recently commented on SSD shares. Stephens increased their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the company a "cautious" rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 24th. Wall Street Zen downgraded shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Stifel Nicolaus raised their price target on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, UBS Group reissued a "neutral" rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Three 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 company. Based on data from MarketBeat, Simpson Manufacturing presently has a consensus rating of "Hold" and an average price target of $216.25.

About Simpson Manufacturing

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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