D.B. Root & Company LLC Acquires Shares of 5,136 Simpson Manufacturing Company, Inc. $SSD

D.B. Root & Company LLC acquired a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,136 shares of the construction company’s stock, valued at approximately $1,075,000.

Several other large investors also recently made changes to their positions in the business. Candriam S.C.A. bought a new position in shares of Simpson Manufacturing in the first quarter worth about $7,133,000. Cooke & Bieler LP lifted its position in shares of Simpson Manufacturing by 77.9% during the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock worth $20,940,000 after purchasing an additional 56,769 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Simpson Manufacturing during the first quarter valued at approximately $4,424,000. Comerica Bank grew its stake in shares of Simpson Manufacturing by 21.6% during the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock valued at $19,921,000 after purchasing an additional 21,889 shares during the last quarter. Finally, Argent Capital Management LLC grew its stake in shares of Simpson Manufacturing by 31.5% during the first quarter. Argent Capital Management LLC now owns 79,773 shares of the construction company’s stock valued at $13,691,000 after purchasing an additional 19,097 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Trading Down 0.1%

SSD opened at $188.66 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 20.62 and a beta of 1.31. The firm has a 50 day simple moving average of $194.66 and a 200 day simple moving average of $188.61. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business had revenue of $671.08 million for the quarter, compared to analyst estimates of $658.76 million. During the same period in the prior year, the business posted $2.47 earnings per share. Simpson Manufacturing’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stephens boosted their price objective 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. UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. DA Davidson lifted their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Stifel Nicolaus boosted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $216.25.

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.