Deutsche Bank AG Has $1.13 Million Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Deutsche Bank AG increased its holdings in Simpson Manufacturing by 102.3% in Q1, acquiring an additional 3,640 shares, bringing its total to 7,199 shares valued at over $1.13 million.
• Wall Street analysts have notated a price target increase for the stock from $180 to $185, with an average target price of $188.50 and a "Moderate Buy" rating.
• The company reported a quarterly earnings per share of $2.47, exceeding estimates, and also announced a quarterly dividend of $0.29 to be paid on October 23rd.

Deutsche Bank AG boosted its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 102.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,199 shares of the construction company's stock after purchasing an additional 3,640 shares during the quarter. Deutsche Bank AG's holdings in Simpson Manufacturing were worth $1,131,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board raised its stake in Simpson Manufacturing by 61.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 4,545 shares of the construction company's stock valued at $714,000 after purchasing an additional 1,735 shares during the last quarter. ING Groep NV raised its stake in Simpson Manufacturing by 355.9% during the 1st quarter. ING Groep NV now owns 31,000 shares of the construction company's stock valued at $4,869,000 after purchasing an additional 24,200 shares during the last quarter. Argent Trust Co raised its stake in Simpson Manufacturing by 12.7% during the 1st quarter. Argent Trust Co now owns 1,551 shares of the construction company's stock valued at $244,000 after purchasing an additional 175 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Simpson Manufacturing by 11.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,824 shares of the construction company's stock valued at $286,000 after purchasing an additional 181 shares during the last quarter. Finally, US Bancorp DE raised its stake in Simpson Manufacturing by 6.6% during the 1st quarter. US Bancorp DE now owns 5,154 shares of the construction company's stock valued at $810,000 after purchasing an additional 321 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Price Performance

SSD stock traded down $2.03 during trading on Friday, hitting $190.91. The company had a trading volume of 224,715 shares, compared to its average volume of 268,976. The company has a fifty day moving average price of $173.96 and a two-hundred day moving average price of $163.09. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. The company has a market cap of $7.95 billion, a P/E ratio of 24.35 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The firm had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. During the same period in the prior year, the company posted $2.31 earnings per share. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is currently 14.80%.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Andersen sold 1,000 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the transaction, the executive vice president owned 7,810 shares of the company's stock, valued at $1,531,775.30. This represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson lifted their price target on shares of 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 issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.50.

Simpson Manufacturing Company Profile

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.