Legal & General Group Plc Makes New Investment in Simpson Manufacturing Company, Inc. $SSD

Legal & General Group Plc acquired a new stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,462 shares of the construction company’s stock, valued at approximately $11,402,000. Legal & General Group Plc owned 0.13% of Simpson Manufacturing at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SSD shares. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Stifel Nicolaus upped their price objective on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Stephens boosted their target price on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $216.25.

Simpson Manufacturing Price Performance

SSD opened at $182.16 on Tuesday. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The firm has a 50-day moving average of $193.17 and a 200 day moving average of $188.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The firm has a market cap of $7.49 billion, a P/E ratio of 19.91 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The firm had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. During the same period in the previous year, the company earned $2.47 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a yield of 0.7%. Simpson Manufacturing’s dividend payout ratio is 13.11%.

Simpson Manufacturing 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.