Geode Capital Management LLC Has $123.60 Million Position in Simpson Manufacturing Company, Inc. $SSD

Geode Capital Management LLC boosted its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 765,322 shares of the construction company’s stock after purchasing an additional 6,869 shares during the period. Geode Capital Management LLC’s holdings in Simpson Manufacturing were worth $123,603,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SSD. Alps Advisors Inc. increased its holdings in shares of Simpson Manufacturing by 43.2% during the third quarter. Alps Advisors Inc. now owns 28,843 shares of the construction company’s stock worth $4,830,000 after purchasing an additional 8,706 shares during the period. Cooke & Bieler LP boosted its position in shares of Simpson Manufacturing by 77.9% during the 4th quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock worth $20,940,000 after acquiring an additional 56,769 shares in the last quarter. Westview Management dba Westview Investment Advisors bought a new position in Simpson Manufacturing in the fourth quarter valued at approximately $2,074,000. Rafferty Asset Management LLC increased its stake in Simpson Manufacturing by 117.6% in the third quarter. Rafferty Asset Management LLC now owns 33,651 shares of the construction company’s stock valued at $5,635,000 after acquiring an additional 18,186 shares during the last quarter. Finally, Comerica Bank increased its stake in Simpson Manufacturing by 21.6% in the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock valued at $19,921,000 after acquiring an additional 21,889 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SSD shares. Robert W. Baird lifted their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. DA Davidson lifted their price objective on shares of 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 lifted their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Finally, Stephens boosted their target price on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Simpson Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $214.75.

Simpson Manufacturing Price Performance

Shares of SSD opened at $185.24 on Friday. Simpson Manufacturing Company, Inc. has a 12-month low of $151.38 and a 12-month high of $211.98. The business has a 50-day simple moving average of $181.55 and a two-hundred day simple moving average of $179.62. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. The stock has a market cap of $7.62 billion, a PE ratio of 21.72 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business had revenue of $587.96 million during the quarter, compared to analysts’ expectations of $550.08 million. During the same quarter in the prior year, the firm earned $1.85 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd 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 0.6%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 13.60%.

Simpson Manufacturing Company Profile

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.