HighTower Advisors LLC Has $1 Million Stake in Simpson Manufacturing Company, Inc. $SSD

HighTower Advisors LLC trimmed its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 54.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,196 shares of the construction company’s stock after selling 7,518 shares during the period. HighTower Advisors LLC’s holdings in Simpson Manufacturing were worth $1,001,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. increased its position in Simpson Manufacturing by 43.2% during the third quarter. Alps Advisors Inc. now owns 28,843 shares of the construction company’s stock worth $4,830,000 after buying an additional 8,706 shares during the last quarter. Westview Management dba Westview Investment Advisors acquired a new position in Simpson Manufacturing during the fourth quarter worth $2,074,000. Rafferty Asset Management LLC increased its position in Simpson Manufacturing by 117.6% during the third quarter. Rafferty Asset Management LLC now owns 33,651 shares of the construction company’s stock worth $5,635,000 after buying an additional 18,186 shares during the last quarter. Comerica Bank grew its position in shares of Simpson Manufacturing by 21.6% in the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock valued at $19,921,000 after purchasing an additional 21,889 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Simpson Manufacturing by 101.7% in the third quarter. Capital World Investors now owns 172,813 shares of the construction company’s stock valued at $28,939,000 after purchasing an additional 87,135 shares during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. DA Davidson raised their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Robert W. Baird raised 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. Stifel Nicolaus raised their price target on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Stephens raised their price target on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.75.

Simpson Manufacturing Trading Down 0.8%

Shares of NYSE:SSD opened at $186.63 on Friday. The company has a market cap of $7.68 billion, a P/E ratio of 21.88 and a beta of 1.32. The stock’s 50-day moving average is $181.34 and its 200-day moving average is $179.58. Simpson Manufacturing Company, Inc. has a 52-week low of $151.38 and a 52-week high of $211.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40.

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, topping analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business had revenue of $587.96 million for the quarter, compared to the consensus estimate of $550.08 million. During the same period last year, the business earned $1.85 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is 13.60%.

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.