Simpson Manufacturing Company, Inc. $SSD Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 117.6% in the third quarter, HoldingsChannel reports. The firm owned 33,651 shares of the construction company’s stock after buying an additional 18,186 shares during the quarter. Rafferty Asset Management LLC’s holdings in Simpson Manufacturing were worth $5,635,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. boosted its position in Simpson Manufacturing by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 693,775 shares of the construction company’s stock valued at $107,750,000 after buying an additional 20,240 shares during the period. First Trust Advisors LP increased its position in shares of Simpson Manufacturing by 33.6% during the second quarter. First Trust Advisors LP now owns 514,406 shares of the construction company’s stock worth $79,893,000 after acquiring an additional 129,354 shares during the period. Champlain Investment Partners LLC increased its position in shares of Simpson Manufacturing by 24.2% during the second quarter. Champlain Investment Partners LLC now owns 501,850 shares of the construction company’s stock worth $77,942,000 after acquiring an additional 97,856 shares during the period. Norges Bank acquired a new stake in shares of Simpson Manufacturing in the second quarter valued at $77,528,000. Finally, Maren Capital LLC boosted its holdings in Simpson Manufacturing by 18.0% in the second quarter. Maren Capital LLC now owns 381,519 shares of the construction company’s stock valued at $59,254,000 after purchasing an additional 58,294 shares during the period. 93.68% of the stock is owned by hedge funds and other institutional investors.

Simpson Manufacturing Trading Down 0.4%

SSD opened at $192.70 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.99 and a current ratio of 3.54. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $211.98. The company has a market cap of $7.99 billion, a P/E ratio of 23.36 and a beta of 1.35. The business’s 50-day simple moving average is $184.70 and its 200-day simple moving average is $178.82.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, February 9th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The firm had revenue of $539.35 million during the quarter, compared to the consensus estimate of $530.70 million. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, equities research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, April 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is 14.06%.

Insider Buying and Selling

In related news, Director Philip E. Donaldson sold 2,375 shares of Simpson Manufacturing stock in a transaction on Friday, December 12th. The shares were sold at an average price of $168.16, for a total transaction of $399,380.00. Following the sale, the director directly owned 6,086 shares in the company, valued at $1,023,421.76. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SSD. Stephens set a $200.00 price target on Simpson Manufacturing in a report on Tuesday, February 10th. DA Davidson lifted their price objective on Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. Robert W. Baird set a $222.00 target price on shares of Simpson Manufacturing in a report on Tuesday, February 10th. Finally, Wall Street Zen upgraded shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.33.

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.