VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 9,200 Shares of Simpson Manufacturing Company, Inc. $SSD

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 340.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,900 shares of the construction company’s stock after purchasing an additional 9,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Simpson Manufacturing were worth $2,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Simpson Manufacturing during the second quarter worth about $862,138,000. State Street Corp lifted its stake in shares of Simpson Manufacturing by 2.9% in the second quarter. State Street Corp now owns 1,308,394 shares of the construction company’s stock worth $273,910,000 after acquiring an additional 37,206 shares during the period. Quantinno Capital Management LP boosted its holdings in Simpson Manufacturing by 0.5% in the first quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock valued at $147,236,000 after acquiring an additional 4,168 shares during the last quarter. First Trust Advisors LP boosted its holdings in Simpson Manufacturing by 6.3% in the first quarter. First Trust Advisors LP now owns 582,201 shares of the construction company’s stock valued at $99,917,000 after acquiring an additional 34,598 shares during the last quarter. Finally, Maren Capital LLC increased its position in Simpson Manufacturing by 0.5% during the 2nd quarter. Maren Capital LLC now owns 513,029 shares of the construction company’s stock valued at $107,403,000 after purchasing an additional 2,639 shares during the period. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Down 1.8%

Shares of NYSE SSD opened at $196.94 on Wednesday. The stock has a market capitalization of $8.10 billion, a P/E ratio of 21.29 and a beta of 1.35. The company has a 50-day moving average price of $178.48 and a 200-day moving average price of $185.61. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.37 and a quick ratio of 2.20.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, October 26th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.44 by $0.24. Simpson Manufacturing had a return on equity of 18.23% and a net margin of 15.62%. The firm had revenue of $638.13 million during the quarter, compared to the consensus estimate of $624.39 million. During the same period in the prior year, the business posted $2.58 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.34 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 28th. Stockholders of record on Thursday, January 7th will be issued a $0.30 dividend. The ex-dividend date is Thursday, January 7th. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is currently 12.97%.

Simpson Manufacturing declared that its Board of Directors has authorized a stock repurchase plan on Monday, October 26th that permits the company to repurchase $1 billion in shares. This buyback authorization permits the construction company to buy up to 13.2% of its shares through open market purchases. Share buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SSD. UBS Group reissued a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stephens cut their price target on shares of Simpson Manufacturing from $215.00 to $205.00 and set a “cautious” rating on the stock in a research report on Tuesday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Simpson Manufacturing in a research report on Thursday, October 22nd. DA Davidson lowered their price objective on Simpson Manufacturing from $212.00 to $203.00 and set a “neutral” rating for the company in a research report on Tuesday, October 27th. Finally, Stifel Nicolaus dropped their price objective on Simpson Manufacturing from $218.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Simpson Manufacturing currently has a consensus rating of “Hold” and a consensus price target of $207.00.

Insider Activity at Simpson Manufacturing

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

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc develops, manufactures and sells structural solutions for residential, commercial and industrial construction. Its products are designed to connect and reinforce wood, concrete and other building materials, supporting applications ranging from new construction to repair, remodeling and retrofit projects.

The company is best known for its Simpson Strong-Tie brand, which offers structural connectors, fasteners, anchors, specialty products, adhesives and related installation systems.