Simpson Manufacturing Company, Inc. $SSD Stake Lessened by HighTower Advisors LLC

HighTower Advisors LLC lowered its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 54.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,196 shares of the construction company’s stock after selling 7,518 shares during the period. HighTower Advisors LLC’s holdings in Simpson Manufacturing were worth $1,001,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after purchasing an additional 92 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Simpson Manufacturing by 322.5% in the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after purchasing an additional 129 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Simpson Manufacturing in the fourth quarter valued at $28,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Simpson Manufacturing in the third quarter valued at $34,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Simpson Manufacturing by 98.0% in the third quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company’s stock valued at $49,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $186.63 on Friday. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. Simpson Manufacturing Company, Inc. has a 1 year low of $151.38 and a 1 year high of $211.98. The business has a fifty day simple moving average of $181.34 and a 200 day simple moving average of $179.58. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 21.88 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. During the same period last year, the company earned $1.85 earnings per share. Simpson Manufacturing’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.60%.

Wall Street Analyst Weigh In

SSD has been the subject of several recent research reports. Robert W. Baird increased their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Stephens increased their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Finally, DA Davidson increased their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Simpson Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $214.75.

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.