Port Capital LLC Purchases Shares of 394,379 Simpson Manufacturing Company, Inc. $SSD

Port Capital LLC purchased a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 394,379 shares of the construction company’s stock, valued at approximately $82,563,000. Simpson Manufacturing comprises about 3.4% of Port Capital LLC’s investment portfolio, making the stock its 10th biggest position.

A number of other large investors have also bought and sold shares of the stock. Caisse de depot et placement du Quebec bought a new stake in shares of Simpson Manufacturing in the second quarter worth about $482,000. Man Group plc bought a new position in Simpson Manufacturing during the 2nd quarter valued at approximately $5,350,000. Polar Asset Management Partners Inc. purchased a new stake in Simpson Manufacturing in the 2nd quarter worth approximately $5,255,000. Jupiter Topco LLC purchased a new stake in Simpson Manufacturing in the 2nd quarter worth approximately $3,832,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Simpson Manufacturing in the 2nd quarter worth approximately $1,009,000. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Stock Down 1.0%

NYSE:SSD opened at $184.80 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The firm has a market cap of $7.60 billion, a P/E ratio of 20.20 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The firm has a 50-day simple moving average of $194.22 and a two-hundred day simple moving average of $188.55.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results 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 net margin of 15.65% and a return on equity of 18.45%. The company had revenue of $671.08 million during the quarter, compared to analyst estimates of $658.76 million. During the same period in the previous year, the business posted $2.47 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, October 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 13.11%.

Analyst Upgrades and Downgrades

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

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.