Cooke & Bieler LP Sells 68,335 Shares of Simpson Manufacturing Company, Inc. $SSD

Cooke & Bieler LP trimmed its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 50.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,499 shares of the construction company’s stock after selling 68,335 shares during the quarter. Cooke & Bieler LP’s holdings in Simpson Manufacturing were worth $14,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC increased its holdings in Simpson Manufacturing by 51.3% in the first quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company’s stock worth $798,000 after purchasing an additional 1,726 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Simpson Manufacturing by 11.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company’s stock worth $427,000 after purchasing an additional 286 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Simpson Manufacturing in the 1st quarter valued at about $531,000. Goldman Sachs Group Inc. grew its stake in Simpson Manufacturing by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company’s stock valued at $33,327,000 after acquiring an additional 64,114 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Simpson Manufacturing by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company’s stock worth $19,022,000 after buying an additional 12,865 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.

Wall Street Analysts Forecast Growth

SSD has been the subject of several recent research reports. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Stifel Nicolaus increased 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. Robert W. Baird lifted their target price on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, DA Davidson raised their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $216.25.

Simpson Manufacturing Stock Performance

Shares of SSD opened at $195.22 on Friday. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 21.34 and a beta of 1.31. The stock has a 50 day moving average of $194.42 and a 200 day moving average of $188.08. Simpson Manufacturing Company, Inc. has a 12 month low of $156.32 and a 12 month high of $213.49.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 EPS 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 period last year, the company posted $2.47 earnings per share. Simpson Manufacturing’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s payout ratio is presently 13.11%.

Simpson Manufacturing Company 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.