Ariel Investments LLC Raises Stake in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Ariel Investments LLC increased its stake in Simpson Manufacturing by 3.4% during the first quarter, now owning approximately 0.27% of the company valued at around $17.5 million.
• Simpson Manufacturing recently reported earnings of $2.47 EPS, beating estimates, and a quarterly revenue of $631.06 million, reflecting a 5.7% year-over-year increase.
• The company plans to pay a quarterly dividend of $0.29 per share, with the next payment scheduled for October 23rd, representing a 0.6% dividend yield.

Ariel Investments LLC boosted its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 3.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,496 shares of the construction company's stock after buying an additional 3,668 shares during the quarter. Ariel Investments LLC owned approximately 0.27% of Simpson Manufacturing worth $17,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP increased its position in Simpson Manufacturing by 458.9% during the 1st quarter. Dark Forest Capital Management LP now owns 29,830 shares of the construction company's stock valued at $4,686,000 after purchasing an additional 24,493 shares during the period. Quarry LP increased its position in Simpson Manufacturing by 539.6% during the 1st quarter. Quarry LP now owns 1,081 shares of the construction company's stock valued at $170,000 after purchasing an additional 912 shares during the period. Baird Financial Group Inc. increased its position in Simpson Manufacturing by 46.4% during the 1st quarter. Baird Financial Group Inc. now owns 28,823 shares of the construction company's stock valued at $4,528,000 after purchasing an additional 9,136 shares during the period. The Manufacturers Life Insurance Company increased its position in Simpson Manufacturing by 12.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 321,546 shares of the construction company's stock valued at $50,508,000 after purchasing an additional 35,659 shares during the period. Finally, Champlain Investment Partners LLC increased its position in Simpson Manufacturing by 20.2% during the 1st quarter. Champlain Investment Partners LLC now owns 403,994 shares of the construction company's stock valued at $63,459,000 after purchasing an additional 67,943 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Stock Down 0.6%

SSD stock traded down $1.20 during trading on Monday, hitting $194.70. 36,748 shares of the stock traded hands, compared to its average volume of 274,848. Simpson Manufacturing Company, Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The firm's 50 day moving average is $177.27 and its two-hundred day moving average is $163.64. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 24.81 and a beta of 1.30. 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 posted its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The business had revenue of $631.06 million for the quarter, compared to analysts' expectations of $601.80 million. During the same quarter in the prior year, the business earned $2.31 EPS. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current 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 issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is 14.80%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the sale, the executive vice president directly owned 7,794 shares of the company's stock, valued at $1,389,436.38. This trade represents a 24.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total transaction of $196,130.00. Following the sale, the executive vice president directly owned 7,810 shares of the company's stock, valued at approximately $1,531,775.30. This trade represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

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.