Vancity Investment Management Ltd Makes New Investment in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Vancity Investment Management Ltd has acquired a new position in Simpson Manufacturing Company, purchasing 5,137 shares valued at approximately $807,000 during the first quarter.
• Simpson Manufacturing reported $2.47 earnings per share for the last quarter, exceeding consensus estimates and marking a year-over-year revenue increase of 5.7%.
• The company has announced a quarterly dividend of $0.29, scheduled to be paid on October 23rd, with a current annualized yield of 0.6%.

Vancity Investment Management Ltd bought a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,137 shares of the construction company's stock, valued at approximately $807,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in Simpson Manufacturing in the fourth quarter worth about $28,000. Harbor Capital Advisors Inc. bought a new position in shares of Simpson Manufacturing in the first quarter worth about $45,000. CWM LLC raised its stake in shares of Simpson Manufacturing by 39.1% in the first quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after buying an additional 93 shares during the period. Blue Trust Inc. raised its stake 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 worth $55,000 after buying an additional 321 shares during the period. Finally, Bayforest Capital Ltd bought a new position in shares of Simpson Manufacturing in the first quarter worth about $72,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Up 1.5%

Shares of SSD opened at $195.82 on Monday. The business's 50 day moving average is $177.27 and its 200 day moving average is $163.64. The company has a market capitalization of $8.15 billion, a PE ratio of 24.98 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $197.82. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its earnings results on Monday, July 28th. The construction company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.08. The company had revenue of $631.06 million for 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 firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $2.31 EPS. Research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders 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 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing's payout ratio is presently 14.80%.

Insider Buying and Selling

In other Simpson Manufacturing news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing 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 owned 7,810 shares of the company's stock, valued at $1,531,775.30. The trade was a 11.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing 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 completion of the sale, the executive vice president directly owned 7,794 shares in the company, valued at approximately $1,389,436.38. The trade was a 24.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised their price objective on 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 given a Hold rating to the company's stock. According to data from MarketBeat, Simpson Manufacturing has an average rating of "Moderate Buy" and a consensus target price of $188.50.

Simpson Manufacturing Company 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.

Want to see what other hedge funds are holding SSD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.