Wealth Enhancement Advisory Services LLC Buys 11,908 Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 708.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,590 shares of the construction company's stock after purchasing an additional 11,908 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Simpson Manufacturing were worth $2,135,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Azzad Asset Management Inc. ADV bought a new position in Simpson Manufacturing during the first quarter valued at $761,000. Ipswich Investment Management Co. Inc. raised its stake in Simpson Manufacturing by 14.5% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,990 shares of the construction company's stock valued at $2,355,000 after acquiring an additional 1,902 shares during the period. Marshall Financial Group LLC lifted its holdings in Simpson Manufacturing by 9.8% during the first quarter. Marshall Financial Group LLC now owns 5,982 shares of the construction company's stock valued at $940,000 after purchasing an additional 536 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Simpson Manufacturing by 163.7% in the first quarter. GAMMA Investing LLC now owns 1,171 shares of the construction company's stock worth $184,000 after purchasing an additional 727 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Simpson Manufacturing in the first quarter valued at approximately $45,000. Institutional investors own 93.68% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their price objective on shares of Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th.

Simpson Manufacturing Price Performance

SSD traded down $0.70 during trading on Friday, reaching $157.16. 644,517 shares of the company were exchanged, compared to its average volume of 248,779. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $197.82. The company's 50-day moving average is $156.43 and its two-hundred day moving average is $160.59. The company has a quick ratio of 1.54, a current ratio of 3.17 and a debt-to-equity ratio of 0.19. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 20.46 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The construction company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. Simpson Manufacturing had a return on equity of 17.80% and a net margin of 14.49%. The firm had revenue of $538.90 million for the quarter, compared to analysts' expectations of $531.81 million. During the same period in the prior year, the business posted $1.77 earnings per share. The company's revenue was up 1.6% on a year-over-year basis. Research analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be paid a $0.29 dividend. The ex-dividend date is Thursday, July 3rd. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.74%. Simpson Manufacturing's dividend payout ratio is currently 14.58%.

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.