United Services Automobile Association Takes Position 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 acquired a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,798 shares of the construction company's stock, valued at approximately $440,000.

Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in shares of Simpson Manufacturing by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock worth $33,327,000 after buying an additional 64,114 shares during the last quarter. Sepio Capital LP raised its stake in shares of Simpson Manufacturing by 69.5% in the 1st quarter. Sepio Capital LP now owns 3,274 shares of the construction company's stock valued at $514,000 after buying an additional 1,343 shares in 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 increased its position in shares of Simpson Manufacturing by 11.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock worth $427,000 after purchasing an additional 286 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Simpson Manufacturing by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock worth $798,000 after acquiring an additional 1,726 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Simpson Manufacturing

In related 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 value of $196,130.00. Following the sale, the executive vice president directly owned 7,810 shares in the company, valued at $1,531,775.30. This represents a 11.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeremy Gilstrap sold 2,500 shares of the 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 transaction, the executive vice president 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 disclosure for this sale can be found here. Corporate insiders own 0.42% of the company's stock.

Simpson Manufacturing Price Performance

SSD stock traded down $1.04 during midday trading on Tuesday, reaching $187.31. The company had a trading volume of 42,297 shares, compared to its average volume of 273,208. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 23.86 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a 1-year low of $137.35 and a 1-year high of $197.82. The stock has a 50 day moving average price of $180.92 and a 200-day moving average price of $164.65.

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

Simpson Manufacturing Dividend Announcement

The company 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 $0.29 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing's dividend payout ratio is currently 14.80%.

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.