Port Capital LLC Purchases Shares of 394,379 Simpson Manufacturing Company, Inc. $SSD

Key Points

• Port Capital LLC acquired 394,379 shares of Simpson Manufacturing in the second quarter, valued at approximately $82.6 million and representing about 0.96% of the company. Institutional investors collectively own 93.68% of SSD.
• Simpson Manufacturing beat quarterly expectations, reporting $3.09 EPS versus the $2.72 consensus and revenue of $671.08 million, up 6.3% year over year.
• The company declared a quarterly dividend of $0.30 per share, or $1.20 annually, yielding approximately 0.6%. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $216.25.

Port Capital LLC acquired a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 394,379 shares of the construction company's stock, valued at approximately $82,563,000. Simpson Manufacturing accounts for 3.4% of Port Capital LLC's investment portfolio, making the stock its 10th largest position. Port Capital LLC owned about 0.96% of Simpson Manufacturing at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Simpson Manufacturing in the second quarter worth approximately $862,138,000. ValueAct Holdings L.P. raised its holdings in Simpson Manufacturing by 21.9% during the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company's stock worth $237,707,000 after purchasing an additional 264,200 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Simpson Manufacturing by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company's stock worth $141,826,000 after purchasing an additional 31,744 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Simpson Manufacturing by 0.5% in the 1st quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company's stock worth $147,236,000 after purchasing an additional 4,168 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Simpson Manufacturing by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company's stock worth $123,603,000 after purchasing an additional 6,869 shares during the period. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $184.80 on Thursday. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15. The stock's fifty day simple moving average is $194.22 and its two-hundred day simple moving average is $188.55. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The stock has a market cap of $7.60 billion, a PE ratio of 20.20 and a beta of 1.31.

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

Simpson Manufacturing Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on SSD shares. Weiss Ratings raised shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 24th. Stifel Nicolaus increased their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Wall Street Zen cut shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Stephens lifted their price target on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a "cautious" rating in a research note on Tuesday, July 28th. Finally, UBS Group reiterated a "neutral" rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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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