MGO One Seven LLC Invests $1.27 Million in Simpson Manufacturing Company, Inc. $SSD

Key Points

• MGO One Seven LLC has invested approximately $1.27 million in Simpson Manufacturing Company, acquiring over 8,000 shares during the second quarter.
• Simpson Manufacturing recently reported a quarterly EPS of $2.47, exceeding expectations, and a year-over-year revenue increase of 5.7%.
• The company has declared a $0.29 quarterly dividend, maintaining a payout ratio of 14.80%, with the next payment scheduled for October 23rd.

MGO One Seven LLC purchased a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,147 shares of the construction company's stock, valued at approximately $1,265,000.

Other hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Simpson Manufacturing during the second quarter worth about $31,000. CWM LLC lifted its position in shares of Simpson Manufacturing by 39.1% during the first quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after purchasing an additional 93 shares in the last quarter. Steph & Co. acquired a new stake in shares of Simpson Manufacturing during the second quarter worth about $53,000. Blue Trust Inc. lifted its position in shares of Simpson Manufacturing by 1,070.0% during the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock worth $55,000 after purchasing an additional 321 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Simpson Manufacturing during the first quarter worth about $72,000. Institutional investors and hedge funds own 93.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SSD. Weiss Ratings reissued a "hold (c+)" rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. DA Davidson upped their target price on shares of Simpson Manufacturing from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $191.00.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president directly owned 7,794 shares in the company, valued at $1,389,436.38. This represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Andersen sold 1,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total transaction of $196,130.00. Following the completion of the transaction, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. This represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company's stock.

Simpson Manufacturing Stock Up 0.3%

SSD stock opened at $169.94 on Thursday. The company's 50 day moving average price is $182.83 and its 200 day moving average price is $166.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 21.68 and a beta of 1.28.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.39 by $0.08. The company had revenue of $631.06 million for the quarter, compared to analyst estimates of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The firm's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 earnings per share. On average, equities research analysts anticipate 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. Shareholders of record on Thursday, October 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is currently 14.80%.

Simpson Manufacturing 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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