Simpson Manufacturing Company, Inc. $SSD Holdings Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 16.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,548 shares of the construction company’s stock after selling 8,278 shares during the period. Retirement Systems of Alabama’s holdings in Simpson Manufacturing were worth $8,907,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in Simpson Manufacturing by 135.3% in the 2nd 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 during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Simpson Manufacturing in the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. acquired a new position in shares of Simpson Manufacturing in the 3rd quarter worth approximately $34,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Simpson Manufacturing in the 1st quarter worth approximately $37,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Simpson Manufacturing by 33.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock worth $37,000 after purchasing an additional 57 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SSD. Stifel Nicolaus raised their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Robert W. Baird upped their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Stephens raised their price objective on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research note on Tuesday, July 28th. Finally, DA Davidson lifted their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Simpson Manufacturing has an average rating of “Hold” and a consensus target price of $216.25.

Simpson Manufacturing Price Performance

SSD stock opened at $195.22 on Friday. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49. The firm has a 50-day moving average of $194.42 and a two-hundred day moving average of $188.08. The firm has a market capitalization of $8.03 billion, a PE ratio of 21.34 and a beta of 1.31. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The business had revenue of $671.08 million for the quarter, compared to the consensus estimate of $658.76 million. During the same period last 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, analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share 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 given 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 presently 13.11%.

Simpson Manufacturing 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.