Sprucegrove Investment Management Ltd. Invests $62,000 in Simpson Manufacturing Company, Inc. $SSD

Sprucegrove Investment Management Ltd. purchased a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 400 shares of the construction company’s stock, valued at approximately $62,000.

Several other hedge funds also recently bought and sold shares of the stock. South Dakota Investment Council boosted its stake in Simpson Manufacturing by 83.7% during the second quarter. South Dakota Investment Council now owns 18,036 shares of the construction company’s stock worth $2,801,000 after buying an additional 8,218 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Simpson Manufacturing during the 2nd quarter worth approximately $6,834,000. Putney Financial Group LLC boosted its position in shares of 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 during the period. Strs Ohio boosted its position in shares of 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 purchasing an additional 1,469 shares during the period. Finally, Atria Investments Inc boosted its position in shares of 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 purchasing an additional 1,303 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Simpson Manufacturing

In related news, EVP Michael Andersen sold 1,000 shares of Simpson Manufacturing stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president owned 7,810 shares in the company, valued at $1,531,775.30. The trade was a 11.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Simpson Manufacturing Stock Performance

Shares of SSD stock opened at $169.91 on Thursday. The company has a quick ratio of 1.80, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82. The stock has a market capitalization of $7.07 billion, a PE ratio of 20.70 and a beta of 1.28. The firm has a 50 day moving average of $178.69 and a two-hundred day moving average of $169.79.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, October 27th. The construction company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.21. The firm had revenue of $623.51 million during the quarter, compared to analyst estimates of $607.79 million. Simpson Manufacturing had a return on equity of 18.11% and a net margin of 14.90%.Simpson Manufacturing’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $2.21 earnings per share. On average, research analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 22nd. Investors of record on Friday, January 2nd will be paid a $0.29 dividend. The ex-dividend date is Friday, January 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.7%. Simpson Manufacturing’s payout ratio is currently 14.13%.

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.