Simpson Manufacturing Company, Inc. Declares Quarterly Dividend of $0.30 (NYSE:SSD)

Key Points

• Simpson Manufacturing declared a quarterly dividend of $0.30 per share, payable on October 22 to shareholders of record on October 1. The dividend implies an annual yield of about 0.6%.
• The company has a strong dividend track record, having increased its payout every year for the last 11 years. Its dividend appears well covered, with a low 13.5% payout ratio and an expected future payout ratio of 12.0%.
• Recent results were solid, with quarterly earnings per share of $2.13 beating estimates and revenue rising 9.1% year over year. The stock also traded higher on the day, reaching $193.58.

Simpson Manufacturing Company, Inc. (NYSE:SSD - Get Free Report) declared a quarterly dividend on Friday, July 24th. Shareholders of record on Thursday, October 1st will be given a dividend of 0.30 per share by the construction company on Thursday, October 22nd. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st.

Simpson Manufacturing has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 11 years. Simpson Manufacturing has a dividend payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Simpson Manufacturing to earn $9.97 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 12.0%.

Simpson Manufacturing Price Performance

NYSE SSD traded up $4.32 during trading hours on Friday, reaching $193.58. 350,457 shares of the company's stock were exchanged, compared to its average volume of 293,080. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The stock has a market cap of $7.96 billion, a PE ratio of 22.69 and a beta of 1.30. The firm has a fifty day moving average of $192.05 and a 200-day moving average of $186.64. Simpson Manufacturing has a one year low of $156.32 and a one year high of $213.49.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.29. The company had revenue of $587.96 million during the quarter, compared to the consensus estimate of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The company's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. On average, equities research analysts predict that Simpson Manufacturing will post 9.13 earnings per share for the current fiscal year.

Institutional Trading of Simpson Manufacturing

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Simpson Manufacturing by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock worth $798,000 after acquiring an additional 1,726 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Simpson Manufacturing by 11.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock valued at $427,000 after buying an additional 286 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Simpson Manufacturing in the 1st quarter valued at $531,000. Goldman Sachs Group Inc. increased its position in Simpson Manufacturing by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock worth $33,327,000 after acquiring an additional 64,114 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Simpson Manufacturing by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company's stock worth $19,022,000 after purchasing an additional 12,865 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

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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