Price T Rowe Associates Inc. MD Increases Holdings in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Simpson Manufacturing by 0.6%, owning approximately 388,778 shares valued at $61.07 million as of the end of the first quarter.
• Multiple institutional investors, including Northern Trust Corp and Burgundy Asset Management Ltd., have also increased their positions in Simpson Manufacturing significantly during the same period.
• Simpson Manufacturing reported earnings per share of $2.47 for the last quarter, surpassing estimates, and declared a quarterly dividend of $0.29 per share to be paid on October 23rd.

Price T Rowe Associates Inc. MD lifted its position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 388,778 shares of the construction company's stock after purchasing an additional 2,335 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.93% of Simpson Manufacturing worth $61,070,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SSD. Quarry LP bought a new stake in shares of Simpson Manufacturing in the fourth quarter worth about $28,000. Investment Management Corp VA ADV bought a new stake in Simpson Manufacturing during the fourth quarter worth approximately $28,000. Harbor Capital Advisors Inc. bought a new stake in Simpson Manufacturing during the first quarter worth approximately $45,000. CWM LLC increased its stake 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 acquiring an additional 93 shares during the last quarter. Finally, Blue Trust Inc. increased its stake 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 acquiring an additional 321 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Trading Down 1.1%

Shares of NYSE:SSD traded down $2.03 during trading hours on Friday, hitting $190.91. 224,715 shares of the company's stock traded hands, compared to its average volume of 268,976. Simpson Manufacturing Company, Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The business has a fifty day moving average price of $173.96 and a 200-day moving average price of $163.08. The firm has a market capitalization of $7.95 billion, a P/E ratio of 24.35 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80.

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

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's payout ratio is 14.80%.

Analysts Set New Price Targets

Separately, DA Davidson boosted their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Simpson Manufacturing presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.50.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Andersen sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the transaction, the executive vice president owned 7,810 shares of the company's stock, valued at $1,531,775.30. This trade represents a 11.35% decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by 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.