Sanctuary Advisors LLC Acquires New Position in Simpson Manufacturing Company, Inc. $SSD

Sanctuary Advisors LLC bought a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,694 shares of the construction company’s stock, valued at approximately $1,611,000.

A number of other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after acquiring an additional 57 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in Simpson Manufacturing by 0.6% in the fourth quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock worth $1,981,000 after purchasing an additional 77 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Simpson Manufacturing by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock worth $4,236,000 after purchasing an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after purchasing an additional 92 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in Simpson Manufacturing by 3.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,613 shares of the construction company’s stock worth $422,000 after purchasing an additional 92 shares during the period. 93.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SSD. Stifel Nicolaus upped their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Stephens raised their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. UBS Group reaffirmed a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Three equities research 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. According to data from MarketBeat.com, Simpson Manufacturing has an average rating of “Hold” and an average target price of $216.25.

Simpson Manufacturing Stock Down 1.0%

Simpson Manufacturing stock opened at $184.80 on Thursday. The business has a fifty day moving average of $194.22 and a two-hundred day moving average of $188.55. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15. The firm has a market cap of $7.60 billion, a P/E ratio of 20.20 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a twelve month low of $156.32 and a twelve month 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 (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 the consensus estimate of $658.76 million. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The business’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, analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

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 given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. 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.