Simpson Manufacturing Company, Inc. $SSD Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has increased its stake in Simpson Manufacturing Company by 111% in the first quarter, now owning 23,633 shares valued at approximately $3.7 million.
• The company recently announced a quarterly dividend of $0.29 per share, with the ex-dividend date set for October 2nd.
• DA Davidson raised its price target on Simpson Manufacturing from $180.00 to $185.00, maintaining a "neutral" rating, indicating a cautious outlook on the stock's performance.

Russell Investments Group Ltd. grew its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 111.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,633 shares of the construction company's stock after buying an additional 12,432 shares during the period. Russell Investments Group Ltd. owned 0.06% of Simpson Manufacturing worth $3,712,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SSD. Quarry LP acquired a new position in Simpson Manufacturing in the fourth quarter valued at $28,000. Investment Management Corp VA ADV acquired a new stake in Simpson Manufacturing during the fourth quarter worth about $28,000. Harbor Capital Advisors Inc. acquired a new stake in Simpson Manufacturing during the first quarter worth about $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. lifted its stake in shares of 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 purchasing an additional 321 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

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 equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Simpson Manufacturing has a consensus rating of "Moderate Buy" and an average price target of $188.50.

Simpson Manufacturing Stock Performance

SSD stock traded down $2.2430 on Monday, reaching $194.8370. The company's stock had a trading volume of 193,313 shares, compared to its average volume of 352,982. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82. The company has a market capitalization of $8.11 billion, a P/E ratio of 24.85 and a beta of 1.26. The firm has a fifty day moving average of $170.72 and a two-hundred day moving average of $162.32. 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 issued its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.08. The business had revenue of $631.06 million for the quarter, compared to analysts' expectations of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The company's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 earnings per share. As a group, analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company 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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is 14.80%.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company'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 value of $445,675.00. Following the completion of the sale, the executive vice president directly owned 7,794 shares in the company, valued at $1,389,436.38. This represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

About Simpson Manufacturing

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.