Simpson Manufacturing Company, Inc. $SSD Shares Acquired by Deutsche Bank AG

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 grew its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 102.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,199 shares of the construction company's stock after buying 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.

Other hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in Simpson Manufacturing during the fourth quarter worth $28,000. Investment Management Corp VA ADV acquired a new position in Simpson Manufacturing during the fourth quarter worth $28,000. Harbor Capital Advisors Inc. acquired a new position in Simpson Manufacturing during the first quarter worth $45,000. CWM LLC raised its holdings 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 purchasing an additional 93 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in 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 during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson lifted their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $188.50.

Insider Buying and Selling

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 7,794 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.42% of the company's stock.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $197.0470 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37. The stock has a fifty day moving average of $169.94 and a two-hundred day moving average of $162.15. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 25.13 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 results on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.08. The company had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.Simpson Manufacturing's revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 earnings per share. On average, analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be paid a $0.29 dividend. 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 presently 14.80%.

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.

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