The Manufacturers Life Insurance Company Raises Stock Position in Simpson Manufacturing Company, Inc. $SSD

The Manufacturers Life Insurance Company boosted its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 2.0% in the second quarter, HoldingsChannel reports. The firm owned 203,524 shares of the construction company’s stock after acquiring an additional 3,981 shares during the period. The Manufacturers Life Insurance Company’s holdings in Simpson Manufacturing were worth $42,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SSD. Sequoia Financial Advisors LLC boosted its stake in shares of Simpson Manufacturing by 10.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,319 shares of the construction company’s stock worth $276,000 after buying an additional 127 shares during the last quarter. Tidal Investments LLC increased its position in Simpson Manufacturing by 112.9% during the second quarter. Tidal Investments LLC now owns 6,043 shares of the construction company’s stock valued at $1,265,000 after acquiring an additional 3,204 shares during the last quarter. Engineers Gate Manager LP bought a new position in Simpson Manufacturing in the second quarter valued at about $661,000. NewEdge Advisors LLC boosted its position in Simpson Manufacturing by 3.8% in the second quarter. NewEdge Advisors LLC now owns 1,679 shares of the construction company’s stock worth $351,000 after purchasing an additional 62 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Simpson Manufacturing by 208.6% in the second quarter. Squarepoint Ops LLC now owns 17,333 shares of the construction company’s stock worth $3,629,000 after purchasing an additional 11,717 shares during the last quarter. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SSD shares. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stifel Nicolaus lifted their target price on Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Stephens boosted their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Simpson Manufacturing has an average rating of “Hold” and a consensus target price of $216.25.

Insider Buying and Selling

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

Simpson Manufacturing Price Performance

Shares of NYSE:SSD opened at $173.33 on Friday. The company has a market capitalization of $7.13 billion, a P/E ratio of 18.94 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The firm’s 50 day simple moving average is $188.14 and its two-hundred day simple moving average is $186.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data 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. The firm had revenue of $671.08 million during the quarter, compared to analysts’ expectations of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.47 earnings per share. Research analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio is presently 13.11%.

Simpson Manufacturing Company 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.