The Manufacturers Life Insurance Company Grows Position in Simpson Manufacturing Company, Inc. $SSD

The Manufacturers Life Insurance Company lifted its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,524 shares of the construction company’s stock after purchasing an additional 3,981 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.49% of Simpson Manufacturing worth $42,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SSD. California State Teachers Retirement System raised its holdings in Simpson Manufacturing by 20,761.9% in the second quarter. California State Teachers Retirement System now owns 9,917,328 shares of the construction company’s stock worth $2,076,193,000 after purchasing an additional 9,869,790 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Simpson Manufacturing in the 2nd quarter worth about $862,138,000. ValueAct Holdings L.P. increased its stake in shares of Simpson Manufacturing by 21.9% in the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock worth $237,707,000 after acquiring an additional 264,200 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Simpson Manufacturing by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company’s stock worth $141,826,000 after acquiring an additional 31,744 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in Simpson Manufacturing by 0.5% during the 1st 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. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Price Performance

Shares of SSD opened at $173.33 on Friday. The company has a market capitalization of $7.13 billion, a P/E ratio of 18.94 and a beta of 1.31. 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 50 day moving average of $188.14 and a 200 day moving average of $186.55. 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 released its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The business had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. During the same period in the prior year, the firm posted $2.47 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate 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. Stockholders 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 0.7%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio is presently 13.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note 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 raised their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research report on Tuesday, July 28th. UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Finally, Stifel Nicolaus boosted 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. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Simpson Manufacturing presently has a consensus rating of “Hold” and an average target price of $216.25.

Insider Activity at Simpson Manufacturing

In related news, CEO Michael Olosky sold 3,502 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total transaction of $605,285.68. Following the sale, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at $8,883,630.32. This trade represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company’s product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.