VELA Investment Management LLC Acquires 3,212 Shares of Simpson Manufacturing Company, Inc. $SSD

VELA Investment Management LLC lifted its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 18,973 shares of the construction company’s stock after buying an additional 3,212 shares during the quarter. VELA Investment Management LLC’s holdings in Simpson Manufacturing were worth $3,972,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Simpson Manufacturing by 135.3% during 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 in the last quarter. Caitlin John LLC bought a new stake in Simpson Manufacturing in the 2nd quarter valued at $27,000. Los Angeles Capital Management LLC acquired a new position in Simpson Manufacturing in the 4th quarter worth $32,000. Brown Brothers Harriman & Co. bought a new position in Simpson Manufacturing during the 3rd quarter worth about $34,000. Finally, Smartleaf Asset Management LLC increased its holdings in Simpson Manufacturing by 33.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock worth $37,000 after purchasing an additional 57 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Down 0.1%

Simpson Manufacturing stock opened at $180.75 on Monday. The company has a market cap of $7.44 billion, a P/E ratio of 19.75 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The company has a fifty day simple moving average of $190.95 and a 200 day simple moving average of $187.35. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.72 by $0.37. The firm had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. Research analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.11%.

Analysts Set New Price Targets

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