South Dakota Investment Council Has $2.80 Million Position in Simpson Manufacturing Company, Inc. $SSD

South Dakota Investment Council raised its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 83.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,036 shares of the construction company’s stock after purchasing an additional 8,218 shares during the quarter. South Dakota Investment Council’s holdings in Simpson Manufacturing were worth $2,801,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. MUFG Securities EMEA plc acquired a new position in shares of Simpson Manufacturing during the 2nd quarter worth about $6,834,000. Putney Financial Group LLC increased its stake in Simpson Manufacturing by 238.4% during the 2nd quarter. Putney Financial Group LLC now owns 379 shares of the construction company’s stock worth $59,000 after purchasing an additional 267 shares in the last quarter. Strs Ohio raised its holdings in Simpson Manufacturing by 20.9% during the 2nd quarter. Strs Ohio now owns 8,489 shares of the construction company’s stock worth $1,318,000 after buying an additional 1,469 shares during the period. Atria Investments Inc raised its holdings in Simpson Manufacturing by 8.4% during the 2nd quarter. Atria Investments Inc now owns 16,793 shares of the construction company’s stock worth $2,608,000 after buying an additional 1,303 shares during the period. Finally, World Investment Advisors acquired a new stake in Simpson Manufacturing during the 2nd quarter worth approximately $779,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Michael Andersen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total transaction of $196,130.00. Following the sale, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. This represents a 11.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Simpson Manufacturing Trading Down 1.6%

Shares of NYSE:SSD opened at $173.62 on Tuesday. The company’s 50-day moving average price is $179.60 and its two-hundred day moving average price is $169.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 1.80. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $197.82. The stock has a market capitalization of $7.23 billion, a PE ratio of 21.15 and a beta of 1.28.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, October 27th. The construction company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.37 by $0.21. Simpson Manufacturing had a net margin of 14.90% and a return on equity of 18.11%. The firm had revenue of $623.51 million for the quarter, compared to analysts’ expectations of $607.79 million. During the same period in the previous year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 22nd. Shareholders of record on Friday, January 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.16 annualized dividend and a yield of 0.7%. Simpson Manufacturing’s payout ratio is 14.13%.

Wall Street Analyst Weigh In

Several analysts have commented on SSD shares. DA Davidson restated a “neutral” rating and set a $190.00 target price on shares of Simpson Manufacturing in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Simpson Manufacturing in a report on Wednesday, October 8th. Finally, Robert W. Baird raised their target price on shares of Simpson Manufacturing from $190.00 to $212.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $201.00.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.