Strs Ohio Makes New $1.10 Million Investment in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Strs Ohio made a new investment of approximately $1.10 million in Simpson Manufacturing Company, acquiring 7,020 shares during the first quarter of the year.
• Simpson Manufacturing reported earnings of $2.47 per share for the last quarter, exceeding analysts' expectations and indicating a year-over-year revenue increase of 5.7%.
• The company announced a quarterly dividend of $0.29 per share, with an annualized yield of 0.6%, scheduled for payment on October 23rd.

Strs Ohio bought a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,020 shares of the construction company's stock, valued at approximately $1,103,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in Simpson Manufacturing during the fourth quarter valued at $28,000. Harbor Capital Advisors Inc. bought a new stake in shares of Simpson Manufacturing during the 1st quarter valued at about $45,000. CWM LLC increased its position in shares of Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock valued at $52,000 after purchasing an additional 93 shares during the last quarter. Blue Trust Inc. increased its position in shares of Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after purchasing an additional 321 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Simpson Manufacturing in the 1st quarter worth approximately $72,000. 93.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Simpson Manufacturing Stock Performance

NYSE SSD traded down $1.80 on Monday, reaching $180.07. 237,160 shares of the stock were exchanged, compared to its average volume of 237,033. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $197.82. The firm has a market capitalization of $7.49 billion, a PE ratio of 22.97 and a beta of 1.30. The company's 50-day simple moving average is $182.65 and its two-hundred day simple moving average is $165.41.

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

Simpson Manufacturing Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio (DPR) is currently 14.80%.

Insider Activity

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president directly owned 7,794 shares in the company, valued at $1,389,436.38. The trade was a 24.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Andersen sold 1,000 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the sale, 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 position. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Simpson Manufacturing 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.