Royal Bank of Canada Decreases Stake in Simpson Manufacturing Company, Inc. $SSD

Royal Bank of Canada decreased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 11.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 173,395 shares of the construction company’s stock after selling 22,908 shares during the period. Royal Bank of Canada’s holdings in Simpson Manufacturing were worth $29,757,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its holdings in Simpson Manufacturing by 33.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after buying an additional 57 shares in the last quarter. Apollon Wealth Management LLC increased its position in Simpson Manufacturing by 1.3% during the fourth quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock worth $796,000 after purchasing an additional 62 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in Simpson Manufacturing by 0.6% during the fourth quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock worth $1,981,000 after purchasing an additional 77 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Simpson Manufacturing by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock valued at $4,236,000 after purchasing an additional 89 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Wall Street Analysts Forecast Growth

SSD has been the topic of several analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Stifel Nicolaus lifted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird increased their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. DA Davidson raised their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, 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. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $216.25.

Simpson Manufacturing Trading Up 2.3%

SSD opened at $196.53 on Wednesday. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week 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. The business has a fifty day simple moving average of $193.42 and a 200-day simple moving average of $187.59. The firm has a market cap of $8.09 billion, a P/E ratio of 21.48 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD) last posted 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. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The firm had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. During the same quarter in the previous year, the business earned $2.47 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Simpson Manufacturing Company, Inc. will post 9.11 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. 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.