Heartland Advisors Inc. Makes New $1.02 Million Investment in Simpson Manufacturing Company, Inc. $SSD

Heartland Advisors Inc. bought a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 4,877 shares of the construction company’s stock, valued at approximately $1,021,000.

A number of other large investors have also recently modified their holdings of the stock. Allworth Financial LP purchased a new position in shares of Simpson Manufacturing during the second quarter valued at about $131,000. Ceredex Value Advisors LLC bought a new position in Simpson Manufacturing in the second quarter worth about $9,463,000. Vise Technologies Inc. purchased a new stake in Simpson Manufacturing in the second quarter worth about $837,000. Denali Advisors LLC purchased a new stake in Simpson Manufacturing in the second quarter worth about $252,000. Finally, NewEdge Wealth LLC bought a new stake in Simpson Manufacturing during the 2nd quarter valued at approximately $5,031,000. Institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stephens upped their target price on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a report on Tuesday, July 28th. Stifel Nicolaus raised their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Robert W. Baird lifted their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Finally, UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $216.25.

Simpson Manufacturing Trading Up 0.4%

NYSE:SSD opened at $188.66 on Friday. The firm has a market capitalization of $7.76 billion, a P/E ratio of 20.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49. The company’s 50-day simple moving average is $194.66 and its 200 day simple moving average is $188.55.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business had revenue of $671.08 million during the quarter, compared to the consensus estimate of $658.76 million. During the same quarter last year, the firm earned $2.47 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 EPS 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. Investors of record on Thursday, October 1st will be paid a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is presently 13.11%.

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.