Simpson Manufacturing Company, Inc. $SSD Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 1.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 199,543 shares of the construction company’s stock after selling 3,812 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Simpson Manufacturing were worth $34,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock worth $37,000 after buying an additional 57 shares during the period. Apollon Wealth Management LLC increased its position in shares of Simpson Manufacturing by 1.3% in the fourth quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock worth $796,000 after acquiring an additional 62 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Simpson Manufacturing by 0.6% in the 4th quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock valued at $1,981,000 after acquiring an additional 77 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Simpson Manufacturing by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock valued at $4,236,000 after acquiring an additional 89 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after acquiring an additional 92 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Simpson Manufacturing Trading Up 0.6%

NYSE SSD opened at $187.70 on Friday. The company’s fifty day simple moving average is $193.14 and its 200-day simple moving average is $187.38. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49. The company has a current ratio of 3.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.72 billion, a P/E ratio of 20.51 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.37. The business had revenue of $671.08 million during the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. Equities research analysts predict that Simpson Manufacturing Company, Inc. will post 9.11 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be issued a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing’s payout ratio is currently 13.11%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SSD. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Stephens boosted their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research note on Tuesday. DA Davidson upped their target price 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, UBS Group reaffirmed a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $216.00.

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.