Maren Capital LLC Buys 35,573 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• Maren Capital LLC increased its holdings in Simpson Manufacturing Company by 12.4%, purchasing an additional 35,573 shares in the first quarter.
• Simpson Manufacturing's stock currently has an average price target of $188.50, with a rating of "Moderate Buy" from analysts.
• The company recently declared a quarterly dividend of $0.29, which is set to be paid on October 23rd.

Maren Capital LLC boosted its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323,225 shares of the construction company's stock after acquiring an additional 35,573 shares during the period. Simpson Manufacturing accounts for 3.5% of Maren Capital LLC's investment portfolio, making the stock its 14th largest holding. Maren Capital LLC owned about 0.77% of Simpson Manufacturing worth $50,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Quarry LP acquired a new position in Simpson Manufacturing in the fourth quarter valued at approximately $28,000. Investment Management Corp VA ADV acquired a new position in Simpson Manufacturing in the fourth quarter valued at approximately $28,000. Harbor Capital Advisors Inc. acquired a new position in Simpson Manufacturing in the first quarter valued at approximately $45,000. CWM LLC lifted its stake in Simpson Manufacturing by 39.1% in the first quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after buying an additional 93 shares during the period. Finally, Blue Trust Inc. lifted its stake in Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after buying an additional 321 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson upped their target price on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Simpson Manufacturing currently has an average rating of "Moderate Buy" and an average price target of $188.50.

Insider Buying and Selling

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction on Friday, August 1st. The stock was 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 directly owned 7,794 shares of the company's stock, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.42% of the company's stock.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $197.0470 on Friday. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a twelve month low of $137.35 and a twelve month high of $197.82. The stock's 50 day moving average is $169.94 and its 200-day moving average is $162.18. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 25.13 and a beta of 1.26.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The company had revenue of $631.06 million for the quarter, compared to analyst estimates of $601.80 million. During the same period in the prior year, the firm earned $2.31 earnings per share. Simpson Manufacturing's revenue for the quarter was up 5.7% on a year-over-year basis. Sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is presently 14.80%.

Simpson Manufacturing Company Profile

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.

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