First Trust Advisors LP Buys 34,598 Shares of Simpson Manufacturing Company, Inc. $SSD

First Trust Advisors LP lifted its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 6.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 582,201 shares of the construction company’s stock after acquiring an additional 34,598 shares during the quarter. First Trust Advisors LP owned 1.42% of Simpson Manufacturing worth $99,917,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on SSD. Robert W. Baird lifted their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Stephens raised their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. DA Davidson increased their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings lowered Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Simpson Manufacturing currently has a consensus rating of “Hold” and a consensus price target of $214.75.

Simpson Manufacturing Price Performance

Shares of SSD stock opened at $193.58 on Friday. The stock’s 50-day moving average is $192.35 and its 200 day moving average is $186.69. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. The company has a market cap of $7.96 billion, a P/E ratio of 22.69 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. The business had revenue of $587.96 million for the quarter, compared to the consensus estimate of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 earnings per share. Research analysts predict that Simpson Manufacturing Company, Inc. will post 9.07 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio is 14.07%.

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.