Legal & General Group Plc Takes Position in Simpson Manufacturing Company, Inc. $SSD

Legal & General Group Plc acquired a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) during the second quarter, according to its most recent filing with the SEC. The fund acquired 54,462 shares of the construction company’s stock, valued at approximately $11,402,000.

A number of other institutional investors have also added to or reduced their stakes in SSD. BlackRock Inc. purchased a new position in Simpson Manufacturing during the 2nd quarter valued at about $862,138,000. ValueAct Holdings L.P. increased its position in shares of Simpson Manufacturing by 21.9% during the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after buying an additional 264,200 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Simpson Manufacturing by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company’s stock worth $141,826,000 after buying an additional 31,744 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Simpson Manufacturing by 0.5% in the first quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock valued at $147,236,000 after acquiring an additional 4,168 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Simpson Manufacturing by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company’s stock valued at $123,603,000 after acquiring an additional 6,869 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SSD. Stephens boosted their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research note on Tuesday, July 28th. Stifel Nicolaus raised their price target on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a report on Monday, August 3rd. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $216.25.

Simpson Manufacturing Price Performance

SSD opened at $182.16 on Tuesday. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $7.49 billion, a P/E ratio of 19.91 and a beta of 1.31. The stock has a 50-day moving average price of $193.17 and a 200-day moving average price of $188.20. Simpson Manufacturing Company, Inc. has a 12-month low of $156.32 and a 12-month high of $213.49.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data 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 company had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.Simpson Manufacturing’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.47 EPS. Equities analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 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. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. Simpson Manufacturing’s dividend payout ratio (DPR) is 13.11%.

Simpson Manufacturing Company 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.