Ranger Investment Management L.P. Invests $31.79 Million in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Ranger Investment Management acquired a new $31.79 million stake in Simpson Manufacturing, purchasing 151,834 shares and making SSD approximately 2% of its portfolio. Institutional investors collectively own 93.68% of the company.
• Simpson Manufacturing reported strong quarterly results, with EPS of $3.09 beating estimates of $2.72 and revenue rising 6.3% year over year to $671.08 million.
• The company declared a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 payout and a 0.6% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $216.25.

Ranger Investment Management L.P. acquired a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 151,834 shares of the construction company's stock, valued at approximately $31,786,000. Simpson Manufacturing makes up about 2.0% of Ranger Investment Management L.P.'s portfolio, making the stock its 12th largest position. Ranger Investment Management L.P. owned approximately 0.37% of Simpson Manufacturing at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in Simpson Manufacturing in the second quarter worth approximately $1,611,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in Simpson Manufacturing during the 2nd quarter valued at $200,000. Bank of Nova Scotia acquired a new position in shares of Simpson Manufacturing during the 2nd quarter valued at $434,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Simpson Manufacturing during the 2nd quarter valued at $61,000. Finally, Quantbot Technologies LP bought a new stake in shares of Simpson Manufacturing in the 2nd quarter worth $3,544,000. Institutional investors and hedge funds own 93.68% of the company's stock.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $188.66 on Monday. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49. The stock has a fifty day moving average of $194.66 and a 200-day moving average of $188.61. The company has a market capitalization of $7.76 billion, a PE ratio of 20.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its 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 business had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. During the same period last year, the firm posted $2.47 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company 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 $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is currently 13.11%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SSD shares. Weiss Ratings upgraded Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Stifel Nicolaus lifted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Wall Street Zen cut shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. UBS Group reissued a "neutral" rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Finally, Robert W. Baird raised their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $216.25.

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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