Simpson Manufacturing Company, Inc. $SSD Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,543 shares of the construction company’s stock after selling 3,812 shares during the period. The Manufacturers Life Insurance Company owned 0.49% of Simpson Manufacturing worth $34,246,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of Montreal Can raised its position in shares of Simpson Manufacturing by 11,044.7% during the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after purchasing an additional 672,402 shares during the last quarter. Norges Bank purchased a new stake in Simpson Manufacturing in the 4th quarter valued at approximately $85,140,000. Victory Capital Management Inc. grew its holdings in Simpson Manufacturing by 6,234.7% during the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock valued at $64,257,000 after buying an additional 391,665 shares during the last quarter. Capital International Investors increased its position in Simpson Manufacturing by 93.7% during the fourth quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock worth $107,086,000 after buying an additional 320,870 shares in the last quarter. Finally, ValueAct Holdings L.P. increased its position in Simpson Manufacturing by 21.9% during the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock worth $237,707,000 after buying an additional 264,200 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SSD. Stephens upped their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research report on Tuesday. Robert W. Baird upped their target price on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. 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. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $216.00.

Simpson Manufacturing Stock Up 0.6%

Shares of SSD opened at $187.70 on Friday. The firm has a market cap of $7.72 billion, a PE ratio of 20.51 and a beta of 1.30. The company’s fifty day moving average is $193.14 and its two-hundred day moving average is $187.38. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The company has a quick ratio of 2.02, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.37. The company had revenue of $671.08 million during the quarter, compared to analysts’ expectations of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 EPS. Analysts forecast that Simpson Manufacturing Company, Inc. will post 9.11 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st 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%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s payout ratio is 13.11%.

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.