Polar Asset Management Partners Inc. Takes $5.25 Million Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Polar Asset Management Partners bought 25,100 Simpson Manufacturing shares worth approximately $5.25 million, while institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing beat quarterly expectations, reporting $3.09 in EPS and $671.08 million in revenue, with revenue up 6.3% year over year.
• The company declared a quarterly dividend of $0.30 per share, while analysts maintain a consensus “Hold” rating and an average price target of $216.25.

Polar Asset Management Partners Inc. purchased a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 25,100 shares of the construction company's stock, valued at approximately $5,255,000. Polar Asset Management Partners Inc. owned approximately 0.06% of Simpson Manufacturing at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Jupiter Topco LLC bought a new stake in Simpson Manufacturing during the second quarter valued at about $3,832,000. Hsbc Holdings PLC bought a new position in Simpson Manufacturing in the second quarter worth about $1,009,000. Legal & General Group Plc bought a new position in Simpson Manufacturing in the second quarter worth about $11,402,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Simpson Manufacturing during the second quarter valued at about $42,608,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Simpson Manufacturing during the second quarter valued at about $76,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $186.66 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The stock has a 50-day moving average of $194.36 and a two-hundred day moving average of $188.59. The stock has a market cap of $7.68 billion, a P/E ratio of 20.40 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The business had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. During the same period in the prior year, the company earned $2.47 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, research analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing's dividend payout ratio is 13.11%.

Analysts Set New Price Targets

SSD has been the topic of a number of analyst reports. Stephens lifted their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a "cautious" rating in a research report on Tuesday, July 28th. DA Davidson increased their target price on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Stifel Nicolaus raised their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Robert W. Baird lifted their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $216.25.

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.

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