Squarepoint Ops LLC Has $3.63 Million Stake in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Squarepoint Ops increased its Simpson Manufacturing stake by 208.6% in the second quarter, holding 17,333 shares valued at approximately $3.63 million. Institutional investors and hedge funds collectively own 93.68% of the company.
• Simpson Manufacturing reported strong quarterly results, with EPS of $3.09 beating estimates of $2.72 and revenue rising 6.3% year over year to $671.08 million.
• The company declared a quarterly dividend of $0.30, equivalent to $1.20 annually and a 0.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $216.25.

Squarepoint Ops LLC raised its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 208.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,333 shares of the construction company's stock after acquiring an additional 11,717 shares during the quarter. Squarepoint Ops LLC's holdings in Simpson Manufacturing were worth $3,629,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Candriam S.C.A. acquired a new stake in Simpson Manufacturing in the first quarter valued at approximately $7,133,000. Deutsche Bank AG acquired a new position in shares of Simpson Manufacturing during the second quarter worth $1,495,000. Polar Asset Management Partners Inc. acquired a new position in shares of Simpson Manufacturing during the second quarter worth $5,255,000. Cooke & Bieler LP lifted its stake in shares of Simpson Manufacturing by 77.9% in the 4th quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company's stock valued at $20,940,000 after acquiring an additional 56,769 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Simpson Manufacturing in the 1st quarter valued at $4,424,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Simpson Manufacturing news, CEO Michael Olosky sold 3,502 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total transaction of $605,285.68. Following the completion of the sale, the chief executive officer owned 51,398 shares of the company's stock, valued at approximately $8,883,630.32. This represents a 6.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Simpson Manufacturing Stock Up 0.5%

Shares of NYSE:SSD opened at $173.33 on Friday. The firm has a market cap of $7.13 billion, a P/E ratio of 18.94 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 12-month low of $156.32 and a 12-month high of $213.49. The business has a fifty day simple moving average of $188.14 and a 200 day simple moving average of $186.55. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The firm had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. During the same quarter in the previous year, the company posted $2.47 EPS. The business's revenue was up 6.3% on a year-over-year basis. Analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The business 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 $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.7%. Simpson Manufacturing's dividend payout ratio is presently 13.11%.

Analyst Ratings Changes

SSD has been the topic of a number of research reports. UBS Group restated a "neutral" rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Stifel Nicolaus lifted their price target on Simpson Manufacturing from $217.00 to $218.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings upgraded Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Stephens upped their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the company a "cautious" rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $216.25.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company's product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.

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