D.B. Root & Company LLC Invests $1.07 Million in Simpson Manufacturing Company, Inc. $SSD

D.B. Root & Company LLC purchased a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) in the second quarter, HoldingsChannel reports. The firm purchased 5,136 shares of the construction company’s stock, valued at approximately $1,075,000.

Other hedge funds have also modified their holdings of the company. Ranger Investment Management L.P. bought a new position in Simpson Manufacturing during the 2nd quarter worth approximately $31,786,000. Sanctuary Advisors LLC bought a new stake in Simpson Manufacturing in the second quarter valued at approximately $1,611,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Simpson Manufacturing in the second quarter valued at approximately $200,000. Bank of Nova Scotia bought a new stake in Simpson Manufacturing in the second quarter valued at approximately $434,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Simpson Manufacturing in the second quarter worth $61,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have 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 upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. DA Davidson raised their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Finally, Robert W. Baird boosted their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Three investment 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’s stock. According to MarketBeat.com, Simpson Manufacturing presently has an average rating of “Hold” and an average target price of $216.25.

Simpson Manufacturing Stock Performance

Shares of SSD stock opened at $188.66 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The company has a market capitalization of $7.76 billion, a P/E ratio of 20.62 and a beta of 1.31. The company’s 50 day moving average price is $194.66 and its two-hundred day moving average price is $188.61. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. The firm 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%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 earnings per share. On average, analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 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.