Simpson Manufacturing Company, Inc. $SSD Stake Increased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 340.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,900 shares of the construction company’s stock after purchasing an additional 9,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Simpson Manufacturing were worth $2,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Simpson Manufacturing in the second quarter valued at approximately $862,138,000. Port Capital LLC acquired a new stake in Simpson Manufacturing during the second quarter worth approximately $82,563,000. Bank of New York Mellon Corp bought a new position in Simpson Manufacturing during the 2nd quarter worth $59,197,000. Bank of America Corp DE bought a new position in Simpson Manufacturing during the 2nd quarter worth $55,283,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Simpson Manufacturing in the 2nd quarter valued at $42,608,000. Institutional investors and hedge funds own 93.68% of the company’s stock.

Insider Buying and Selling at Simpson Manufacturing

In related news, CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total transaction of $605,285.68. Following the sale, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at approximately $8,883,630.32. The trade was a 6.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

SSD has been the topic of several analyst reports. Stifel Nicolaus reduced their target price on Simpson Manufacturing from $218.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Stephens dropped their price target on Simpson Manufacturing from $215.00 to $205.00 and set a “cautious” rating for the company in a research note on Tuesday, October 27th. DA Davidson cut their price objective on shares of Simpson Manufacturing from $212.00 to $203.00 and set a “neutral” rating for the company in a research report on Tuesday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Simpson Manufacturing in a research note on Thursday, October 22nd. Finally, UBS Group reissued a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Simpson Manufacturing has an average rating of “Hold” and a consensus price target of $207.00.

Simpson Manufacturing Trading Down 1.8%

Shares of SSD stock opened at $196.94 on Wednesday. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The stock’s fifty day moving average price is $178.48 and its two-hundred day moving average price is $185.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.20 and a current ratio of 3.37. The company has a market cap of $8.10 billion, a PE ratio of 21.29 and a beta of 1.35.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, October 26th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.24. The business had revenue of $638.13 million during the quarter, compared to the consensus estimate of $624.39 million. Simpson Manufacturing had a return on equity of 18.23% and a net margin of 15.62%. Simpson Manufacturing’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.58 EPS. Equities analysts predict that Simpson Manufacturing Company, Inc. will post 9.34 EPS for the current fiscal year.

Simpson Manufacturing declared that its Board of Directors has initiated a stock repurchase program on Monday, October 26th that authorizes the company to repurchase $1 billion in shares. This buyback authorization authorizes the construction company to purchase up to 13.2% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 28th. Stockholders of record on Thursday, January 7th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, January 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is 12.97%.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications ranging from new construction to repair, remodeling and retrofit projects.

The company is best known for its Simpson Strong-Tie brand, which offers structural connectors, fasteners, anchors, specialty products, adhesives and related installation systems.