Public Employees Retirement System of Ohio Takes $2.77 Million Position in Simpson Manufacturing Company, Inc. $SSD

Public Employees Retirement System of Ohio bought a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) in the second quarter, HoldingsChannel.com reports. The fund bought 13,216 shares of the construction company’s stock, valued at approximately $2,767,000.

Several other large investors also recently bought and sold shares of SSD. BlackRock Inc. purchased a new stake in Simpson Manufacturing during the second quarter valued at $862,138,000. Bank of Montreal Can grew its stake in shares of Simpson Manufacturing by 11,044.7% in the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after buying an additional 672,402 shares in the last quarter. Norges Bank purchased a new position in shares of Simpson Manufacturing in the 4th quarter worth $85,140,000. Port Capital LLC bought a new stake in shares of Simpson Manufacturing in the 2nd quarter worth about $82,563,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Simpson Manufacturing by 6,234.7% in the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock worth $64,257,000 after buying an additional 391,665 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

SSD opened at $180.75 on Friday. The business has a fifty day moving average of $190.95 and a 200 day moving average of $187.50. Simpson Manufacturing Company, Inc. has a 52-week low of $156.32 and a 52-week high of $213.49. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.44 billion, a P/E ratio of 19.75 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The business had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. During the same quarter last year, the firm posted $2.47 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SSD. Stephens increased their price target on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a report on Tuesday, July 28th. Stifel Nicolaus boosted their price objective on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $216.25.

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.