The Manufacturers Life Insurance Company Purchases 35,659 Shares of Simpson Manufacturing Company, Inc. $SSD

Key Points

• The Manufacturers Life Insurance Company increased its holdings in Simpson Manufacturing Company by 12.5% during the 1st quarter, now owning approximately 321,546 shares valued at $50.5 million.
• Simpson Manufacturing recently reported $2.47 EPS for the last quarter, beating expectations, with revenue increasing 5.7% year over year.
• The company declared a quarterly dividend of $0.29 per share to be paid on October 23rd, reflecting an annualized yield of 0.6%.

The Manufacturers Life Insurance Company grew its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 321,546 shares of the construction company's stock after buying an additional 35,659 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.77% of Simpson Manufacturing worth $50,508,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SSD. Ameriprise Financial Inc. increased its position in shares of Simpson Manufacturing by 90.4% in the fourth quarter. Ameriprise Financial Inc. now owns 581,406 shares of the construction company's stock worth $96,405,000 after purchasing an additional 275,989 shares during the period. Quantinno Capital Management LP boosted its stake in Simpson Manufacturing by 5,137.3% in the fourth quarter. Quantinno Capital Management LP now owns 270,349 shares of the construction company's stock valued at $44,832,000 after buying an additional 265,187 shares in the last quarter. GAMMA Investing LLC boosted its stake in Simpson Manufacturing by 41,328.2% in the first quarter. GAMMA Investing LLC now owns 183,941 shares of the construction company's stock valued at $28,893,000 after buying an additional 183,497 shares in the last quarter. Brown Advisory Inc. boosted its stake in Simpson Manufacturing by 4,755.8% in the fourth quarter. Brown Advisory Inc. now owns 168,302 shares of the construction company's stock valued at $27,910,000 after buying an additional 164,836 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Simpson Manufacturing in the first quarter valued at about $15,567,000. Institutional investors own 93.68% of the company's stock.

Insider Transactions at Simpson Manufacturing

In other news, EVP Jeremy Gilstrap sold 2,500 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the transaction, the executive vice president directly owned 7,794 shares in the company, valued at $1,389,436.38. This trade represents 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 through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president directly owned 7,810 shares in the company, 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. 0.39% of the stock is owned by company insiders.

Simpson Manufacturing Trading Down 0.4%

Shares of SSD traded down $0.79 during mid-day trading on Wednesday, reaching $187.37. 248,586 shares of the company were exchanged, compared to its average volume of 248,506. 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 market capitalization of $7.80 billion, a PE ratio of 23.90 and a beta of 1.30. The business has a 50 day simple moving average of $175.79 and a two-hundred day simple moving average of $163.50.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) 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 company had revenue of $631.06 million during the quarter, compared to the consensus estimate of $601.80 million. During the same period last year, the company earned $2.31 earnings per share. The firm's revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

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 given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is 14.80%.

Analyst Ratings Changes

Separately, DA Davidson raised their price objective on Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.50.

About Simpson Manufacturing

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.