Vancity Investment Management Ltd Purchases New Holdings 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 stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,137 shares of the construction company's stock, valued at approximately $807,000.

Several other large investors have also recently made changes to their positions in the business. United Services Automobile Association purchased a new position in shares of Simpson Manufacturing during the first quarter valued at approximately $440,000. Goldman Sachs Group Inc. lifted its holdings in shares of Simpson Manufacturing by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock valued at $33,327,000 after purchasing an additional 64,114 shares during the last quarter. Sepio Capital LP increased its position in shares of Simpson Manufacturing by 69.5% during the first quarter. Sepio Capital LP now owns 3,274 shares of the construction company's stock valued at $514,000 after acquiring an additional 1,343 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Simpson Manufacturing in the 1st quarter worth approximately $531,000. Finally, Integrated Wealth Concepts LLC grew 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 valued at $427,000 after acquiring an additional 286 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Price Performance

Shares of SSD traded down $5.04 during trading hours on Friday, reaching $188.84. 185,550 shares of the stock traded hands, compared to its average volume of 230,704. 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 Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The company's 50-day moving average price is $180.34 and its two-hundred day moving average price is $164.50. The company has a market cap of $7.86 billion, a P/E ratio of 24.09 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results 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. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The company had revenue of $631.06 million for the quarter, compared to analysts' expectations of $601.80 million. During the same quarter in the previous year, the company earned $2.31 EPS. Simpson Manufacturing's revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The business also recently declared 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 is Thursday, October 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Simpson Manufacturing's payout ratio is presently 14.80%.

Analyst Ratings Changes

Separately, DA Davidson boosted their price objective on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a research report 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $188.50.

Insider Buying and Selling at Simpson Manufacturing

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $178.27, for a total value of $445,675.00. Following the sale, 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 position. The sale was disclosed in a document filed 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 on Monday, August 25th. The stock was sold at an average price of $196.13, for a total transaction of $196,130.00. Following the completion of the sale, the executive vice president owned 7,810 shares in the company, valued at approximately $1,531,775.30. The trade was a 11.35% decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

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.