XTX Topco Ltd Takes Position in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Key Points

• XTX Topco Ltd acquired a new stake in Simpson Manufacturing Company during Q1, purchasing 7,122 shares valued at approximately $1,119,000.
• Simpson Manufacturing reported a quarterly EPS of $2.47, surpassing analysts' expectations, with revenue of $631.06 million, rising 5.7% year-over-year.
• The company has declared a quarterly dividend of $0.29 per share, which will be paid to investors of record on October 2nd, 2023.

XTX Topco Ltd purchased a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,122 shares of the construction company's stock, valued at approximately $1,119,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Simpson Manufacturing in the 4th quarter worth about $28,000. Investment Management Corp VA ADV acquired a new position in Simpson Manufacturing during the 4th quarter worth approximately $28,000. Harbor Capital Advisors Inc. bought a new stake in Simpson Manufacturing during the 1st quarter worth approximately $45,000. CWM LLC grew its holdings in Simpson Manufacturing by 39.1% during the 1st quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after acquiring an additional 93 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Simpson Manufacturing by 1,070.0% in the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after purchasing an additional 321 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson upped their price objective on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th.

Simpson Manufacturing Stock Up 1.1%

NYSE SSD traded up $2.02 on Tuesday, hitting $182.66. 76,088 shares of the company were exchanged, compared to its average volume of 277,913. The company has a market cap of $7.64 billion, a PE ratio of 23.30 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82. The stock has a fifty day moving average of $161.47 and a 200-day moving average of $160.16. 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, topping the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The business had revenue of $631.06 million for the quarter, compared to analyst estimates of $601.80 million. During the same period in the prior year, the firm earned $2.31 earnings per share. Simpson Manufacturing's revenue was up 5.7% on a year-over-year basis. As a group, analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, October 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Simpson Manufacturing's dividend payout ratio is presently 14.80%.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Jeremy Gilstrap sold 2,500 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $178.27, for a total transaction of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares in the company, valued at approximately $1,389,436.38. This represents a 24.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

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.