Simpson Manufacturing Company, Inc. (NYSE:SSD) Short Interest Down 16.1% in April

Key Points

• Short interest fell 16.1% in April to 1,055,167 shares (about 2.6% of float) with a short-interest ratio of 4.5 days.
• Q1 results topped estimates—EPS $2.13 vs. $1.84 and revenue $587.96M vs. $550.08M (revenue +9.1% YoY), while analysts remain mixed with a consensus "Hold" rating and a $214.75 price target.
• Institutional ownership is very high at 93.68%, and several funds recently increased or initiated stakes (e.g., Alps Advisors +43.2%, Campbell & Co +340.1%, Cooke & Bieler new position).

Simpson Manufacturing Company, Inc. (NYSE:SSD - Get Free Report) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 1,055,167 shares, a decrease of 16.1% from the March 31st total of 1,258,384 shares. Based on an average daily volume of 234,211 shares, the short-interest ratio is currently 4.5 days. Approximately 2.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Simpson Manufacturing

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. increased its holdings in shares of Simpson Manufacturing by 43.2% in the third quarter. Alps Advisors Inc. now owns 28,843 shares of the construction company's stock valued at $4,830,000 after purchasing an additional 8,706 shares in the last quarter. Westview Management dba Westview Investment Advisors bought a new position in Simpson Manufacturing in the 4th quarter valued at $2,074,000. EULAV Asset Management bought a new position in Simpson Manufacturing in the 3rd quarter valued at $5,526,000. Campbell & CO Investment Adviser LLC increased its stake in shares of Simpson Manufacturing by 340.1% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 14,221 shares of the construction company's stock valued at $2,381,000 after buying an additional 10,990 shares during the period. Finally, Cooke & Bieler LP acquired a new stake in shares of Simpson Manufacturing in the 3rd quarter valued at $12,211,000. Institutional investors and hedge funds own 93.68% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SSD. Wall Street Zen downgraded shares of Simpson Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Weiss Ratings downgraded Simpson Manufacturing from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 2nd. Stephens boosted their price target on Simpson Manufacturing from $200.00 to $210.00 and gave the company an "equal weight" rating in a research note on Tuesday. Stifel Nicolaus upped their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Robert W. Baird raised their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $214.75.

Simpson Manufacturing Price Performance

NYSE:SSD opened at $191.77 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.99 and a current ratio of 3.40. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 22.50 and a beta of 1.37. Simpson Manufacturing has a 52 week low of $151.38 and a 52 week high of $211.98. The company has a 50-day moving average of $180.16 and a 200-day moving average of $177.21.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.29. The company had revenue of $587.96 million during the quarter, compared to analyst estimates 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 quarter last year, the business posted $1.85 earnings per share. As a group, equities research analysts anticipate that Simpson Manufacturing will post 9.07 earnings per share for the current fiscal year.

About Simpson Manufacturing

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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