M&T Bank Corp Buys 6,601 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• M&T Bank Corp raised its stake in Simpson Manufacturing (NYSE:SSD) by 43.5%, adding 6,601 shares to hold 21,764 shares valued at about $3.51 million (≈0.05% ownership).
• Analyst sentiment is mixed-to-positive with two Buy and two Hold ratings, an average rating of "Moderate Buy" and an average price target of $205.25.
• Simpson beat quarterly estimates with $1.35 EPS and 4.2% revenue growth year-over-year, and it pays a quarterly dividend of $0.29 (annualized $1.16, yield ~0.6%).

M&T Bank Corp raised its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,764 shares of the construction company's stock after acquiring an additional 6,601 shares during the period. M&T Bank Corp owned about 0.05% of Simpson Manufacturing worth $3,514,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SSD. EverSource Wealth Advisors LLC lifted its position in shares of Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock valued at $25,000 after purchasing an additional 92 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Simpson Manufacturing by 322.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company's stock worth $28,000 after buying an additional 129 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Simpson Manufacturing during the 4th quarter worth approximately $28,000. Brown Brothers Harriman & Co. bought a new position in shares of Simpson Manufacturing during the 3rd quarter worth approximately $34,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Simpson Manufacturing by 98.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company's stock worth $49,000 after buying an additional 144 shares in the last quarter. 93.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stifel Nicolaus initiated coverage on Simpson Manufacturing in a report on Monday, April 20th. They issued a "buy" rating and a $205.00 target price for the company. Stephens set a $200.00 price target on Simpson Manufacturing in a report on Tuesday, February 10th. Weiss Ratings lowered Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 2nd. DA Davidson raised their target price on Simpson Manufacturing from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Wednesday, February 11th. Finally, Robert W. Baird lowered their target price on Simpson Manufacturing to $216.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $205.25.

Simpson Manufacturing Trading Up 0.3%

Shares of SSD stock opened at $182.09 on Monday. Simpson Manufacturing Company, Inc. has a 12-month low of $149.79 and a 12-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 50 day moving average of $181.41 and a 200-day moving average of $176.74. The firm has a market cap of $7.50 billion, a P/E ratio of 22.07 and a beta of 1.37.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.26 by $0.09. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.The business had revenue of $539.35 million for the quarter, compared to the consensus estimate of $530.70 million. During the same quarter in the prior year, the business earned $1.31 earnings per share. Simpson Manufacturing's revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.98 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, April 2nd. Simpson Manufacturing's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.