Teacher Retirement System of Texas Grows Position in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Teacher Retirement System of Texas boosted its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 23.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,690 shares of the construction company's stock after purchasing an additional 6,666 shares during the quarter. Teacher Retirement System of Texas owned about 0.09% of Simpson Manufacturing worth $5,606,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Simpson Manufacturing in the fourth quarter worth approximately $28,000. Investment Management Corp VA ADV acquired a new stake in Simpson Manufacturing in the fourth quarter valued at approximately $28,000. Harbor Capital Advisors Inc. acquired a new stake in Simpson Manufacturing in the first quarter valued at approximately $45,000. Blue Trust Inc. grew its stake in 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 acquiring an additional 321 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Simpson Manufacturing by 1,542.3% in the fourth quarter. Jones Financial Companies Lllp now owns 427 shares of the construction company's stock valued at $71,000 after acquiring an additional 401 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson reduced their price objective on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th.

Simpson Manufacturing Stock Down 2.3%

Shares of NYSE:SSD traded down $3.73 during mid-day trading on Monday, hitting $159.40. 335,849 shares of the company traded hands, compared to its average volume of 251,585. The stock has a 50-day moving average price of $157.54 and a two-hundred day moving average price of $159.85. The company has a current ratio of 3.17, a quick ratio of 1.54 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.67 billion, a P/E ratio of 20.76 and a beta of 1.28. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.14. The company had revenue of $538.90 million for the quarter, compared to the consensus estimate of $531.81 million. Simpson Manufacturing had a net margin of 14.49% and a return on equity of 17.80%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. On average, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, July 3rd. This is an increase from Simpson Manufacturing's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.73%. Simpson Manufacturing's dividend payout ratio is 15.10%.

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.