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 Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,020 shares of the construction company's stock, valued at approximately $1,103,000.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Simpson Manufacturing by 0.4% in the first quarter. Principal Financial Group Inc. now owns 97,163 shares of the construction company's stock valued at $15,262,000 after buying an additional 380 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Simpson Manufacturing by 163.7% in the first quarter. GAMMA Investing LLC now owns 1,171 shares of the construction company's stock valued at $184,000 after buying an additional 727 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Simpson Manufacturing by 708.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,590 shares of the construction company's stock valued at $2,135,000 after buying an additional 11,908 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Simpson Manufacturing by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company's stock valued at $776,000 after buying an additional 135 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after buying an additional 321 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Price Performance

Shares of SSD opened at $184.09 on Friday. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. 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 50 day simple moving average of $182.05 and a 200 day simple moving average of $165.09. The firm has a market capitalization of $7.66 billion, a PE ratio of 23.48 and a beta of 1.30.

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 analysts' consensus estimates 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 the consensus estimate of $601.80 million. During the same quarter in the prior year, the firm posted $2.31 EPS. The business's revenue was up 5.7% on a year-over-year basis. Sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, DA Davidson boosted 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 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 presently has an average rating of "Moderate Buy" and a consensus target price of $188.50.

Insider Buying and Selling

In other news, EVP Michael Andersen sold 1,000 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total transaction of $196,130.00. Following the sale, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. This represents a 11.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 7,794 shares in the company, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company's stock.

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.

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