Quantbot Technologies LP Buys New Stake in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Quantbot Technologies acquired 16,928 shares of Simpson Manufacturing in the second quarter, valued at approximately $3.54 million. Institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing exceeded quarterly expectations, reporting $3.09 in EPS and $671.08 million in revenue, with revenue rising 6.3% year over year.
• Analysts have a consensus “Hold” rating and a $216.25 price target, while the company announced a quarterly dividend of $0.30 per share, representing a 0.6% yield.

Quantbot Technologies LP bought a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,928 shares of the construction company's stock, valued at approximately $3,544,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company's stock valued at $25,000 after buying an additional 92 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Simpson Manufacturing in the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. acquired a new stake in Simpson Manufacturing in the third quarter worth about $34,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Simpson Manufacturing during the first quarter worth about $37,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company's stock valued at $37,000 after acquiring an additional 57 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on SSD. Stifel Nicolaus increased their price objective on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Wall Street Zen lowered shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Stephens raised their price target 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. Robert W. Baird lifted their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Finally, DA Davidson boosted their price objective on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Simpson Manufacturing presently has a consensus rating of "Hold" and a consensus target price of $216.25.

Simpson Manufacturing Trading Down 0.1%

Simpson Manufacturing stock opened at $188.66 on Monday. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 20.62 and a beta of 1.31. The stock has a 50-day moving average price of $194.66 and a 200 day moving average price of $188.61.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings results 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. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. During the same quarter in the prior year, the company earned $2.47 EPS. Simpson Manufacturing's quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Announces Dividend

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

About Simpson Manufacturing

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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