California State Teachers Retirement System Acquires 8,010 Shares of Simpson Manufacturing Company, Inc. $SSD

California State Teachers Retirement System raised its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 47,538 shares of the construction company’s stock after acquiring an additional 8,010 shares during the period. California State Teachers Retirement System’s holdings in Simpson Manufacturing were worth $8,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSD. Smartleaf Asset Management LLC grew its holdings in shares of Simpson Manufacturing by 33.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after purchasing an additional 57 shares in the last quarter. Apollon Wealth Management LLC grew its stake in Simpson Manufacturing by 1.3% in the 4th quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock worth $796,000 after acquiring an additional 62 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Simpson Manufacturing by 0.6% during the fourth quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock worth $1,981,000 after acquiring an additional 77 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Simpson Manufacturing by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock valued at $4,236,000 after acquiring an additional 89 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after acquiring an additional 92 shares in the last quarter. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Stock Up 2.3%

Shares of SSD opened at $196.53 on Wednesday. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 21.48 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49. The stock’s 50-day moving average price is $193.42 and its 200-day moving average price is $187.59. 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 (NYSE:SSD) last announced its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The firm had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. During the same period in the prior year, the firm posted $2.47 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.11 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s payout ratio is 13.11%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Robert W. Baird raised their target price on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. 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. DA Davidson raised their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.