Simpson Manufacturing Company, Inc. $SSD Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 11,911.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,057 shares of the construction company’s stock after purchasing an additional 105,174 shares during the quarter. Fifth Third Bancorp’s holdings in Simpson Manufacturing were worth $18,202,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SSD. Bank of Montreal Can lifted its position in Simpson Manufacturing by 11,044.7% during the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock worth $109,556,000 after acquiring an additional 672,402 shares in the last quarter. Norges Bank purchased a new position in shares of Simpson Manufacturing in the fourth quarter valued at $85,140,000. Victory Capital Management Inc. grew its holdings in Simpson Manufacturing by 6,234.7% during the 4th quarter. Victory Capital Management Inc. now owns 397,947 shares of the construction company’s stock valued at $64,257,000 after purchasing an additional 391,665 shares in the last quarter. Capital International Investors grew its holdings in Simpson Manufacturing by 93.7% during the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock valued at $107,086,000 after purchasing an additional 320,870 shares in the last quarter. Finally, ValueAct Holdings L.P. grew its holdings in Simpson Manufacturing by 21.9% during the 4th quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after purchasing an additional 264,200 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Stock Down 1.8%

NYSE:SSD opened at $185.40 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 21.74 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49. The stock has a 50-day simple moving average of $192.01 and a 200 day simple moving average of $185.31.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The firm had revenue of $587.96 million for the quarter, compared to analysts’ expectations of $550.08 million. During the same quarter in the prior year, the firm posted $1.85 earnings per share. Simpson Manufacturing’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a 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 14.07%.

Analyst Ratings Changes

A number of brokerages have commented on SSD. Stifel Nicolaus boosted their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. DA Davidson raised their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings downgraded Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Stephens upped their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $214.75.

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.