California State Teachers Retirement System Increases Stock Position in Simpson Manufacturing Company, Inc. $SSD

California State Teachers Retirement System increased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20,761.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,917,328 shares of the construction company’s stock after acquiring an additional 9,869,790 shares during the quarter. California State Teachers Retirement System owned about 0.24% of Simpson Manufacturing worth $2,076,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock worth $37,000 after acquiring an additional 57 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in shares of Simpson Manufacturing by 0.6% during the fourth quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock valued at $1,981,000 after purchasing an additional 77 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Simpson Manufacturing by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock valued at $4,236,000 after purchasing an additional 89 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Simpson Manufacturing by 6.0% during the second quarter. HB Wealth Management LLC now owns 1,598 shares of the construction company’s stock valued at $335,000 after purchasing an additional 90 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 valued at $25,000 after purchasing an additional 92 shares during the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Price Performance

Shares of SSD opened at $173.33 on Friday. The company has a market capitalization of $7.13 billion, a P/E ratio of 18.94 and a beta of 1.31. 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 firm has a 50 day moving average of $188.14 and a 200 day moving average of $186.55. Simpson Manufacturing Company, Inc. has a twelve month low of $156.32 and a twelve month high of $213.49.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data 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. The company had revenue of $671.08 million during the quarter, compared to analyst estimates of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 EPS. As a group, equities 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 announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s payout ratio is 13.11%.

Insiders Place Their Bets

In related news, CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the completion of the sale, the chief executive officer owned 51,398 shares of the company’s stock, valued at $8,883,630.32. The trade was a 6.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stifel Nicolaus lifted their price objective 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 boosted 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. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Finally, Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. 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, the stock currently has an average rating of “Hold” and a consensus price target of $216.25.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company’s product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.