Norges Bank Invests $85.14 Million in Simpson Manufacturing Company, Inc. $SSD

Norges Bank bought a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 527,280 shares of the construction company’s stock, valued at approximately $85,140,000.

Other institutional investors and hedge funds have also recently made changes to their positions in 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 worth $25,000 after acquiring an additional 92 shares during 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 worth $28,000 after acquiring an additional 129 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Simpson Manufacturing in the fourth quarter worth about $28,000. Brown Brothers Harriman & Co. bought a new position in shares of Simpson Manufacturing in the third quarter worth about $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 worth $49,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $185.24 on Friday. The business has a 50 day moving average of $181.55 and a 200-day moving average of $179.62. Simpson Manufacturing Company, Inc. has a 1 year low of $151.38 and a 1 year high of $211.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. The company has a market capitalization of $7.62 billion, a P/E ratio of 21.72 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $587.96 million during the quarter, compared to the consensus estimate of $550.08 million. During the same quarter in the prior year, the firm posted $1.85 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

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

Wall Street Analysts Forecast Growth

SSD has been the subject of a number of research reports. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Stephens upped their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Stifel Nicolaus upped their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, DA Davidson upped their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.75.

About Simpson Manufacturing

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.