Tidal Investments LLC Has $1.26 Million Stock Position in Simpson Manufacturing Company, Inc. $SSD

Tidal Investments LLC boosted its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 112.9% during the second quarter, Holdings Channel reports. The fund owned 6,043 shares of the construction company’s stock after acquiring an additional 3,204 shares during the period. Tidal Investments LLC’s holdings in Simpson Manufacturing were worth $1,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Simpson Manufacturing during the second quarter worth approximately $862,138,000. Quantinno Capital Management LP lifted its holdings 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 worth $147,236,000 after buying an additional 4,168 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Simpson Manufacturing by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company’s stock worth $123,603,000 after buying an additional 6,869 shares in the last quarter. Maren Capital LLC boosted its position in Simpson Manufacturing by 0.5% in the 2nd quarter. Maren Capital LLC now owns 513,029 shares of the construction company’s stock valued at $107,403,000 after buying an additional 2,639 shares during the last quarter. Finally, Capital International Investors boosted its position in Simpson Manufacturing by 93.7% in the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock valued at $107,086,000 after buying an additional 320,870 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Stephens boosted their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $216.25.

Simpson Manufacturing Stock Performance

SSD stock opened at $171.38 on Friday. Simpson Manufacturing Company, Inc. has a twelve month low of $156.32 and a twelve month high of $213.49. 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 company has a market cap of $7.05 billion, a P/E ratio of 18.73 and a beta of 1.31. The business’s fifty day moving average is $186.28 and its 200-day moving average is $185.77.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.37. The business had revenue of $671.08 million during 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%.The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 earnings per share. Equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.14 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s payout ratio is presently 13.11%.

Insider Activity

In other news, CEO Michael Olosky sold 3,502 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the completion of the sale, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at $8,883,630.32. This represents a 6.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Simpson Manufacturing Company 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.