Nuveen LLC Invests $15.57 Million 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 purchased a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 99,101 shares of the construction company's stock, valued at approximately $15,567,000. Nuveen LLC owned about 0.24% of Simpson Manufacturing as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Simpson Manufacturing by 0.4% in the first quarter. Principal Financial Group Inc. now owns 97,163 shares of the construction company's stock valued at $15,262,000 after purchasing an additional 380 shares during the period. GAMMA Investing LLC grew its holdings in Simpson Manufacturing by 163.7% in the 1st quarter. GAMMA Investing LLC now owns 1,171 shares of the construction company's stock valued at $184,000 after buying an additional 727 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake 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 valued at $2,135,000 after acquiring an additional 11,908 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Simpson Manufacturing by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company's stock worth $776,000 after acquiring an additional 135 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock worth $55,000 after acquiring an additional 321 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upped their price target 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 equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $188.50.

Simpson Manufacturing Trading Up 4.4%

Shares of NYSE:SSD traded up $8.3670 during trading on Friday, reaching $197.0470. 247,927 shares of the stock were exchanged, compared to its average volume of 353,142. 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 12-month low of $137.35 and a 12-month high of $197.82. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 25.13 and a beta of 1.26. The firm's 50-day moving average price is $169.94 and its 200 day moving average price is $162.18.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The company had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. During the same period in the previous year, the firm earned $2.31 earnings per share. Simpson Manufacturing's revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share 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. Investors of record on Thursday, October 2nd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is currently 14.80%.

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.

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.