Massachusetts Financial Services Co. MA Increases Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Massachusetts Financial Services massively increased its stake in Simpson Manufacturing, buying 156,820 shares for an 8,834.9% increase to own 158,595 shares (~0.38% of the company) valued at about $25.61 million.
• Simpson beat Q results with EPS of $1.35 versus $1.26 expected and revenue of $539.35M (up 4.2% year-over-year), and declared a quarterly dividend of $0.29 ($1.16 annualized, ~0.7% yield).
• Analysts hold a consensus "Hold" rating with a $207.33 target price (one Buy, two Holds); the stock trades around $172.57 with a market cap of $7.11 billion and a P/E of ~20.9.

Massachusetts Financial Services Co. MA increased its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 8,834.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,595 shares of the construction company's stock after buying an additional 156,820 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.38% of Simpson Manufacturing worth $25,608,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust grew its holdings in shares of Simpson Manufacturing by 2.1% during the third quarter. Parkside Financial Bank & Trust now owns 2,837 shares of the construction company's stock valued at $475,000 after buying an additional 58 shares during the last quarter. Apollon Wealth Management LLC lifted its position in Simpson Manufacturing by 1.3% during the fourth quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company's stock valued at $796,000 after purchasing an additional 62 shares during the period. World Investment Advisors lifted its position in Simpson Manufacturing by 1.5% during the third quarter. World Investment Advisors now owns 5,092 shares of the construction company's stock valued at $853,000 after purchasing an additional 75 shares during the period. MGO One Seven LLC lifted its position in Simpson Manufacturing by 1.1% during the third quarter. MGO One Seven LLC now owns 8,234 shares of the construction company's stock valued at $1,379,000 after purchasing an additional 87 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Simpson Manufacturing by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company's stock valued at $4,236,000 after purchasing an additional 89 shares during the period. 93.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SSD shares. Wall Street Zen downgraded shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Robert W. Baird set a $222.00 target price on shares of Simpson Manufacturing in a research report on Tuesday, February 10th. Weiss Ratings downgraded shares of Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 2nd. DA Davidson boosted their target price on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Wednesday, February 11th. Finally, Stephens set a $200.00 target price on shares of Simpson Manufacturing in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $207.33.

Simpson Manufacturing Trading Down 3.0%

Shares of Simpson Manufacturing stock opened at $172.57 on Thursday. The firm has a 50-day simple moving average of $184.39 and a two-hundred day simple moving average of $176.15. The company has a market cap of $7.11 billion, a P/E ratio of 20.92 and a beta of 1.37. Simpson Manufacturing Company, Inc. has a fifty-two week low of $142.67 and a fifty-two week high of $211.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.99 and a current ratio of 3.54.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, February 9th. The construction company reported $1.35 earnings per share 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 the consensus estimate of $530.70 million. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The company's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 earnings per share. As a group, equities analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Investors 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 0.7%. The ex-dividend date is Thursday, April 2nd. Simpson Manufacturing's dividend payout ratio is 14.06%.

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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