Simpson Manufacturing Company, Inc. $SSD Holdings Raised by VELA Investment Management LLC

VELA Investment Management LLC raised its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 19,664 shares of the construction company’s stock after purchasing an additional 3,284 shares during the period. VELA Investment Management LLC’s holdings in Simpson Manufacturing were worth $4,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitlin John LLC acquired a new position in shares of Simpson Manufacturing in the second quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after purchasing an additional 92 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Simpson Manufacturing during the fourth quarter valued at $32,000. Brown Brothers Harriman & Co. purchased a new position in Simpson Manufacturing in the third quarter valued at about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Simpson Manufacturing in the first quarter valued at about $37,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stephens raised their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research note on Tuesday, July 28th. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Finally, Stifel Nicolaus boosted their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $216.25.

Simpson Manufacturing Price Performance

Shares of Simpson Manufacturing stock opened at $180.75 on Monday. The firm has a fifty day simple moving average of $190.95 and a 200-day simple moving average of $187.35. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 19.75 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. The business had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. Simpson Manufacturing’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $2.47 EPS. On average, sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.11%.

Simpson Manufacturing 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.