Simpson Manufacturing Company, Inc. $SSD Shares Purchased by VELA Investment Management LLC

VELA Investment Management LLC raised its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,664 shares of the construction company’s stock after purchasing an additional 3,284 shares during the quarter. VELA Investment Management LLC’s holdings in Simpson Manufacturing were worth $4,117,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Caitlin John LLC acquired a new stake in shares of Simpson Manufacturing in the second quarter valued at $27,000. EverSource Wealth Advisors LLC grew its holdings in Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after acquiring an additional 92 shares during the period. Los Angeles Capital Management LLC bought a new stake in Simpson Manufacturing in the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. acquired a new stake in Simpson Manufacturing in the 3rd quarter valued at about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Simpson Manufacturing in the 1st quarter valued at about $37,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $180.75 on Monday. The company’s fifty day moving average is $190.95 and its two-hundred day moving average is $187.35. The company has a market cap of $7.44 billion, a P/E ratio of 19.75 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 12-month low of $156.32 and a 12-month high of $213.49. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly 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. The business had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.Simpson Manufacturing’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 earnings per share. Equities analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stephens lifted their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Stifel Nicolaus raised their target price 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. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Finally, Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $216.25.

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.