Nuveen LLC Acquires New Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Nuveen LLC has invested approximately $15.57 million in Simpson Manufacturing by purchasing 99,101 shares, representing about 0.24% of the company.
• Wall Street analysts have raised the target price for Simpson Manufacturing from $180.00 to $185.00 while maintaining a "neutral" rating, with an average target price of $188.50.
• Simpson Manufacturing recently reported strong quarterly earnings with $2.47 EPS, exceeding estimates, and a revenue of $631.06 million, marking a 5.7% year-over-year increase.

Nuveen LLC acquired a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 99,101 shares of the construction company's stock, valued at approximately $15,567,000. Nuveen LLC owned about 0.24% of Simpson Manufacturing at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SSD. Quarry LP acquired a new position in Simpson Manufacturing during the fourth quarter worth approximately $28,000. Investment Management Corp VA ADV acquired a new position in Simpson Manufacturing during the fourth quarter worth approximately $28,000. Harbor Capital Advisors Inc. acquired a new position in Simpson Manufacturing during the first quarter worth approximately $45,000. CWM LLC increased its position in 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 during the last quarter. Finally, Blue Trust Inc. increased its position in 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 during the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

Insider Transactions at Simpson Manufacturing

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the sale, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. This trade represents a 24.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $196.13, for a total transaction of $196,130.00. Following the transaction, the executive vice president directly owned 7,810 shares in the company, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, DA Davidson increased their price objective on shares of 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $188.50.

Simpson Manufacturing Stock Down 0.2%

Shares of SSD stock traded down $0.34 on Tuesday, hitting $194.79. The stock had a trading volume of 172,229 shares, compared to its average volume of 340,296. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 24.85 and a beta of 1.26. The stock's 50 day moving average is $171.57 and its 200-day moving average is $162.54.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The firm had revenue of $631.06 million for the quarter, compared to the consensus estimate of $601.80 million. During the same period in the prior year, the firm posted $2.31 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. As a group, research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

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

About Simpson Manufacturing

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.