Baker Avenue Asset Management LP Grows Stock Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Baker Avenue Asset Management LP increased its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,399,918 shares of the construction company's stock after purchasing an additional 62,165 shares during the period. Simpson Manufacturing makes up about 7.1% of Baker Avenue Asset Management LP's holdings, making the stock its biggest position. Baker Avenue Asset Management LP owned 3.32% of Simpson Manufacturing worth $232,148,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in Simpson Manufacturing in the fourth quarter worth approximately $28,000. Park Place Capital Corp bought a new stake in Simpson Manufacturing during the 4th quarter valued at $29,000. World Investment Advisors LLC acquired a new position in Simpson Manufacturing during the third quarter worth $30,000. R Squared Ltd bought a new position in shares of Simpson Manufacturing in the fourth quarter valued at $30,000. Finally, UMB Bank n.a. increased its position in shares of Simpson Manufacturing by 88.2% during the fourth quarter. UMB Bank n.a. now owns 207 shares of the construction company's stock worth $34,000 after acquiring an additional 97 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SSD has been the subject of a number of analyst reports. DA Davidson cut their price target on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Robert W. Baird lowered their price target on Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th.

Simpson Manufacturing Stock Performance

SSD stock traded up $0.39 during midday trading on Wednesday, hitting $153.82. The company's stock had a trading volume of 196,849 shares, compared to its average volume of 271,165. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 20.24 and a beta of 1.34. Simpson Manufacturing Co., Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20. The stock's 50-day moving average price is $153.93 and its 200 day moving average price is $167.38.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last released its earnings results on Monday, April 28th. The construction company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.14. The business had revenue of $538.90 million during the quarter, compared to the consensus estimate of $531.81 million. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. The business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business posted $1.77 earnings per share. On average, equities analysts forecast that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.75%. This is a positive change from Simpson Manufacturing's previous quarterly dividend of $0.28. Simpson Manufacturing's payout ratio is 14.58%.

Insiders Place Their Bets

In other news, EVP Michael Andersen sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total value of $169,980.00. Following the completion of the transaction, the executive vice president now directly owns 8,810 shares in the company, valued at approximately $1,497,523.80. This trade represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by corporate insiders.

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.