Novem Group Purchases 1,539 Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD)

Novem Group lifted its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,728 shares of the construction company's stock after purchasing an additional 1,539 shares during the period. Novem Group's holdings in Simpson Manufacturing were worth $900,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SSD. Wealth Enhancement Advisory Services LLC grew its position in shares of Simpson Manufacturing by 708.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,590 shares of the construction company's stock worth $2,135,000 after buying an additional 11,908 shares during the period. State of Alaska Department of Revenue grew its holdings in Simpson Manufacturing by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company's stock worth $776,000 after purchasing an additional 135 shares during the period. Blue Trust Inc. increased 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 purchasing an additional 321 shares in the last quarter. US Bancorp DE increased its stake in Simpson Manufacturing by 14.7% in the fourth quarter. US Bancorp DE now owns 4,833 shares of the construction company's stock valued at $801,000 after purchasing an additional 620 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Simpson Manufacturing during the first quarter valued at about $45,000. Institutional investors and hedge funds own 93.68% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson reduced their target price on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th.

Simpson Manufacturing Stock Down 0.9%

Shares of NYSE:SSD traded down $1.45 during trading on Friday, reaching $163.13. 347,786 shares of the stock were exchanged, compared to its average volume of 251,150. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $197.82. The stock has a fifty day moving average of $157.35 and a two-hundred day moving average of $160.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.17 and a quick ratio of 1.54. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 21.24 and a beta of 1.28.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The construction company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. The firm had revenue of $538.90 million for the quarter, compared to the consensus estimate of $531.81 million. Simpson Manufacturing had a net margin of 14.49% and a return on equity of 17.80%. The business's revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 earnings per share. Research analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.71%. This is an increase from Simpson Manufacturing's previous quarterly dividend of $0.28. Simpson Manufacturing's payout ratio is 14.58%.

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.