Public Employees Retirement System of Ohio Takes Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Public Employees Retirement System of Ohio acquired 13,216 shares of Simpson Manufacturing valued at approximately $2.77 million, while institutional investors collectively own 93.68% of the company.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” and a consensus price target of $216.25, despite some recent upgrades and target-price increases.
• Simpson Manufacturing exceeded quarterly expectations, reporting $3.09 in EPS and $671.08 million in revenue, up 6.3% year over year; it also declared a quarterly dividend of $0.30 per share.

Public Employees Retirement System of Ohio bought 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 SEC. The institutional investor bought 13,216 shares of the construction company's stock, valued at approximately $2,767,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SSD. EverSource Wealth Advisors LLC lifted its holdings in Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock valued at $25,000 after purchasing an additional 92 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Simpson Manufacturing in the fourth quarter worth $32,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Simpson Manufacturing in the third quarter worth $34,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Simpson Manufacturing during the 1st quarter valued at $37,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Simpson Manufacturing by 33.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company's stock valued at $37,000 after purchasing an additional 57 shares during the period. 93.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SSD has been the subject of several recent analyst reports. Stephens upped their target price on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a "cautious" rating in a report on Tuesday, July 28th. Stifel Nicolaus raised their price target on Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a report on Monday, August 3rd. UBS Group restated a "neutral" rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Wall Street Zen lowered Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Finally, Weiss Ratings upgraded Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $216.25.

Simpson Manufacturing Stock Performance

SSD opened at $180.75 on Friday. 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 market capitalization of $7.44 billion, a price-to-earnings ratio of 19.75 and a beta of 1.31. The company has a fifty day moving average of $190.95 and a 200 day moving average of $187.50. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49.

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

Simpson Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing's payout ratio is currently 13.11%.

Simpson Manufacturing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source