United Services Automobile Association Makes New Investment in Simpson Manufacturing Company, Inc. $SSD

Key Points

• United Services Automobile Association acquired 2,798 shares of Simpson Manufacturing Company, valued at approximately $440,000, during the first quarter of 2023.
• Analysts have raised their price target for Simpson Manufacturing from $180.00 to $185.00, while the stock has an average target of $188.50 with a "Moderate Buy" rating.
• Simpson Manufacturing announced a quarterly dividend of $0.29 per share, which will be paid on October 23rd, reflecting a 0.6% yield.

United Services Automobile Association bought a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,798 shares of the construction company's stock, valued at approximately $440,000.

Several other large investors have also modified their holdings of SSD. Goldman Sachs Group Inc. grew its holdings in Simpson Manufacturing by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock valued at $33,327,000 after buying an additional 64,114 shares during the last quarter. Sepio Capital LP boosted its stake in shares of Simpson Manufacturing by 69.5% during the 1st quarter. Sepio Capital LP now owns 3,274 shares of the construction company's stock worth $514,000 after purchasing an additional 1,343 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Simpson Manufacturing during the 1st quarter worth about $531,000. Integrated Wealth Concepts LLC grew its holdings in shares of Simpson Manufacturing by 11.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock worth $427,000 after buying an additional 286 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Simpson Manufacturing by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock valued at $798,000 after acquiring an additional 1,726 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Simpson Manufacturing Stock Down 2.6%

Shares of NYSE SSD traded down $5.04 on Friday, hitting $188.84. The company had a trading volume of 185,550 shares, compared to its average volume of 230,704. The firm has a market capitalization of $7.86 billion, a P/E ratio of 24.09 and a beta of 1.30. The business has a 50 day moving average of $180.34 and a two-hundred day moving average of $164.47. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $197.82. The company has a quick ratio of 1.80, a current ratio of 3.37 and a debt-to-equity ratio of 0.18.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.08. The company had revenue of $631.06 million during the quarter, compared to analysts' expectations of $601.80 million. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 EPS. As a group, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share 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. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio (DPR) is currently 14.80%.

Insider Activity

In related news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing 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 completion of the transaction, the executive vice president directly owned 7,794 shares in the company, valued at approximately $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Andersen sold 1,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 7,810 shares of the company's stock, valued at approximately $1,531,775.30. This represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently 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.