Simpson Manufacturing Company, Inc. $SSD Position Cut by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama cut its Simpson Manufacturing stake by 16.3% in the second quarter, selling 8,278 shares and retaining 42,548 shares worth approximately $8.9 million. Institutional investors collectively own 93.68% of the company.
• Analyst sentiment is mixed, with Simpson Manufacturing receiving an overall “Hold” rating and an average price target of $216.25. Recent targets ranged from $212 to $215, while ratings included three Buys, two Holds and one Sell.
• Simpson Manufacturing reported quarterly EPS of $3.09, beating estimates of $2.72, while revenue rose 6.3% year over year to $671.08 million. The company also declared a $0.30 quarterly dividend, equal to a 0.6% annualized yield.

Retirement Systems of Alabama decreased its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 16.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,548 shares of the construction company's stock after selling 8,278 shares during the quarter. Retirement Systems of Alabama owned about 0.10% of Simpson Manufacturing worth $8,907,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of Simpson Manufacturing by 11,044.7% in the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company's stock worth $109,556,000 after acquiring an additional 672,402 shares during the period. Norges Bank acquired a new position in Simpson Manufacturing during the 4th quarter valued at about $85,140,000. Victory Capital Management Inc. grew its position in Simpson Manufacturing by 6,234.7% in the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company's stock worth $64,257,000 after purchasing an additional 391,665 shares during the last quarter. Capital International Investors grew its position in Simpson Manufacturing by 93.7% in the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company's stock worth $107,086,000 after purchasing an additional 320,870 shares during the last quarter. Finally, ValueAct Holdings L.P. increased its stake in shares of Simpson Manufacturing by 21.9% in the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company's stock valued at $237,707,000 after purchasing an additional 264,200 shares during the period. Institutional investors own 93.68% of the company's stock.

Analyst Ratings Changes

SSD has been the topic of a number of recent analyst reports. Wall Street Zen cut Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Stephens increased their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a "cautious" rating in a report on Tuesday, July 28th. UBS Group restated a "neutral" rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Weiss Ratings raised Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 24th. Finally, DA Davidson boosted their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Simpson Manufacturing currently has an average rating of "Hold" and an average price target of $216.25.

Simpson Manufacturing Stock Up 0.2%

SSD stock opened at $195.22 on Friday. 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 $8.03 billion, a price-to-earnings ratio of 21.34 and a beta of 1.31. The firm's 50-day moving average is $194.42 and its two-hundred day moving average is $188.08. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15.

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 analysts' consensus estimates of $2.72 by $0.37. The company had revenue of $671.08 million during the quarter, compared to analyst estimates of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 EPS. On average, analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

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 issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.6%. Simpson Manufacturing's payout ratio is presently 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.

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