Simpson Manufacturing Company, Inc. $SSD Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 117.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,651 shares of the construction company’s stock after acquiring an additional 18,186 shares during the quarter. Rafferty Asset Management LLC owned 0.08% of Simpson Manufacturing worth $5,635,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SSD. Alps Advisors Inc. grew its position in Simpson Manufacturing by 43.2% during the 3rd quarter. Alps Advisors Inc. now owns 28,843 shares of the construction company’s stock worth $4,830,000 after purchasing an additional 8,706 shares during the period. EULAV Asset Management acquired a new position in shares of Simpson Manufacturing in the 3rd quarter valued at about $5,526,000. Argent Capital Management LLC purchased a new stake in shares of Simpson Manufacturing in the third quarter worth about $15,976,000. Campbell & CO Investment Adviser LLC grew its holdings in Simpson Manufacturing by 340.1% during the third quarter. Campbell & CO Investment Adviser LLC now owns 14,221 shares of the construction company’s stock worth $2,381,000 after acquiring an additional 10,990 shares during the period. Finally, Cooke & Bieler LP acquired a new stake in Simpson Manufacturing during the third quarter worth about $12,211,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SSD shares. Robert W. Baird set a $222.00 price target on Simpson Manufacturing in a report on Tuesday, February 10th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 12th. Wall Street Zen raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday. DA Davidson raised their price target on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Finally, Stephens set a $200.00 price objective on shares of Simpson Manufacturing in a report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.33.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $192.70 on Tuesday. The company has a fifty day simple moving average of $184.70 and a 200-day simple moving average of $178.82. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 23.36 and a beta of 1.35. The company has a quick ratio of 1.99, a current ratio of 3.54 and a debt-to-equity ratio of 0.18. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $211.98.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, February 9th. The construction company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Simpson Manufacturing had a net margin of 14.79% and a return on equity of 17.63%. The firm had revenue of $539.35 million for the quarter, compared to analyst estimates of $530.70 million. During the same period in the previous year, the business posted $1.31 earnings per share. Simpson Manufacturing’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, April 2nd. Simpson Manufacturing’s payout ratio is currently 14.06%.

Insider Activity

In related news, Director Philip E. Donaldson sold 2,375 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $168.16, for a total value of $399,380.00. Following the completion of the sale, the director owned 6,086 shares of the company’s stock, valued at approximately $1,023,421.76. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by company insiders.

About Simpson Manufacturing

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.