Squarepoint Ops LLC Has $3.63 Million Position in Simpson Manufacturing Company, Inc. $SSD

Squarepoint Ops LLC lifted its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 208.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,333 shares of the construction company’s stock after buying an additional 11,717 shares during the period. Squarepoint Ops LLC’s holdings in Simpson Manufacturing were worth $3,629,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 92 shares during the period. Caitlin John LLC bought a new stake in Simpson Manufacturing in the second quarter worth approximately $27,000. Los Angeles Capital Management LLC acquired a new position in Simpson Manufacturing in the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. acquired a new position in Simpson Manufacturing in the third quarter valued at approximately $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Simpson Manufacturing during the 1st quarter worth approximately $37,000. 93.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SSD shares. Wall Street Zen downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Stifel Nicolaus increased their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Stephens raised their price target on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a report on Tuesday, July 28th. 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. Finally, UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $216.25.

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $173.33 on Friday. 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 Company, Inc. has a twelve month low of $156.32 and a twelve month high of $213.49. The stock’s 50 day moving average is $188.14 and its 200-day moving average is $186.55. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 18.94 and a beta of 1.31.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results 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 business had revenue of $671.08 million during the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. Simpson Manufacturing’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.47 EPS. Sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

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

Insider Activity

In other news, CEO Michael Olosky sold 3,502 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $172.84, for a total transaction of $605,285.68. Following the completion of the sale, the chief executive officer directly owned 51,398 shares of the company’s stock, valued at $8,883,630.32. The trade was a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells engineered structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications such as new construction, remodeling, seismic strengthening and infrastructure projects.

The company’s product portfolio includes structural connectors, fasteners, anchors, adhesives, truss plates, reinforcing systems and related construction products.