Simpson Manufacturing Company, Inc. $SSD Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 3.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 92,548 shares of the construction company’s stock after buying an additional 3,328 shares during the period. Principal Financial Group Inc.’s holdings in Simpson Manufacturing were worth $15,883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SSD. Smartleaf Asset Management LLC boosted its position in shares of Simpson Manufacturing by 33.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after acquiring an additional 57 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Simpson Manufacturing by 1.3% in the 4th quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock valued at $796,000 after purchasing an additional 62 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Simpson Manufacturing by 0.6% in the 4th quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock valued at $1,981,000 after buying an additional 77 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Simpson Manufacturing by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock worth $4,236,000 after buying an additional 89 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after buying an additional 92 shares during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SSD has been the topic of several analyst reports. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Robert W. Baird raised their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. DA Davidson lifted their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Weiss Ratings lowered Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Finally, Stephens increased their price target on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $214.75.

Simpson Manufacturing Price Performance

SSD opened at $189.11 on Friday. The stock’s 50-day moving average price is $192.05 and its 200 day moving average price is $186.64. Simpson Manufacturing Company, Inc. has a 12-month low of $156.32 and a 12-month high of $213.49. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 22.17 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.29. The company had revenue of $587.96 million during the quarter, compared to the consensus estimate of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.Simpson Manufacturing’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS. As a group, sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 9.13 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd were paid a $0.30 dividend. The ex-dividend date of this dividend was 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 dividend yield of 0.6%. Simpson Manufacturing’s payout ratio is 14.07%.

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.