MERIAN GLOBAL INVESTORS UK Ltd boosted its position in shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) by 101.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 322,153 shares of the construction company’s stock after purchasing an additional 162,435 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd owned about 0.70% of Simpson Manufacturing worth $23,343,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in Simpson Manufacturing by 56.1% during the second quarter. Sei Investments Co. now owns 2,485 shares of the construction company’s stock valued at $154,000 after purchasing an additional 893 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Simpson Manufacturing in the second quarter valued at approximately $175,000. D.B. Root & Company LLC acquired a new position in shares of Simpson Manufacturing in the second quarter valued at approximately $219,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Simpson Manufacturing by 31.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,920 shares of the construction company’s stock valued at $244,000 after buying an additional 939 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Simpson Manufacturing in the second quarter valued at approximately $246,000. 89.72% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Simpson Manufacturing from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. ValuEngine cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Robert W. Baird cut shares of Simpson Manufacturing from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $75.00 to $72.00 in a report on Monday, October 15th. Finally, Sidoti increased their target price on shares of Simpson Manufacturing from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $74.00.
Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, October 29th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. The firm had revenue of $284.18 million for the quarter, compared to analyst estimates of $296.80 million. Simpson Manufacturing had a net margin of 11.88% and a return on equity of 14.43%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. As a group, sell-side analysts expect that Simpson Manufacturing Co, Inc. will post 3.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 24th. Stockholders of record on Thursday, January 3rd will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, January 2nd. Simpson Manufacturing’s payout ratio is presently 44.44%.
Simpson Manufacturing Profile
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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