VELA Investment Management LLC Invests $2.50 Million in Simpson Manufacturing Company, Inc. $SSD

Key Points

• VELA Investment Management LLC bought a new stake of 15,505 shares in Simpson Manufacturing (NYSE:SSD) during Q4, valued at about $2.50 million.
• Simpson beat quarterly expectations, reporting EPS of $2.13 (vs. $1.84 expected) and revenue of $587.96 million, with revenue up 9.1% year-over-year and a net margin of 14.92%.
• About 93.68% of SSD is owned by institutional investors; analysts’ consensus is a "Hold" with an average target price of $214.75 (market cap ≈ $7.91B, P/E ~22.5).

VELA Investment Management LLC bought a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,505 shares of the construction company's stock, valued at approximately $2,504,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Parkside Financial Bank & Trust lifted its position in Simpson Manufacturing by 2.1% during the third quarter. Parkside Financial Bank & Trust now owns 2,837 shares of the construction company's stock valued at $475,000 after purchasing an additional 58 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Simpson Manufacturing by 1.3% during the fourth quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company's stock valued at $796,000 after purchasing an additional 62 shares in the last quarter. MGO One Seven LLC lifted its position in Simpson Manufacturing by 1.1% during the third quarter. MGO One Seven LLC now owns 8,234 shares of the construction company's stock valued at $1,379,000 after purchasing an additional 87 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Simpson Manufacturing by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company's stock valued at $4,236,000 after purchasing an additional 89 shares in the last quarter. Finally, NewEdge Wealth LLC lifted its position in Simpson Manufacturing by 0.3% during the third quarter. NewEdge Wealth LLC now owns 29,280 shares of the construction company's stock valued at $4,968,000 after purchasing an additional 92 shares in the last quarter. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Simpson Manufacturing Price Performance

NYSE:SSD opened at $192.09 on Friday. The company has a quick ratio of 1.99, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The business's 50-day simple moving average is $180.16 and its two-hundred day simple moving average is $177.29. The stock has a market cap of $7.91 billion, a PE ratio of 22.52 and a beta of 1.34. Simpson Manufacturing Company, Inc. has a 52 week low of $151.38 and a 52 week high of $211.98.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.29. The business had revenue of $587.96 million for the quarter, compared to analysts' expectations of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $1.85 earnings per share. As a group, analysts forecast that Simpson Manufacturing Company, Inc. will post 9.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SSD. DA Davidson lifted their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Wall Street Zen downgraded Simpson Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Stephens lifted their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the company an "equal weight" rating in a research report on Tuesday. Robert W. Baird lifted their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings cut Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $214.75.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.

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