Simpson Manufacturing Company, Inc. $SSD Stock: Cooke & Bieler LP Boosts Holdings

Cooke & Bieler LP increased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,794 shares of the construction company’s stock after purchasing an additional 7,295 shares during the quarter. Cooke & Bieler LP owned approximately 0.18% of Simpson Manufacturing worth $12,781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SSD. BlackRock Inc. acquired a new position in Simpson Manufacturing in the second quarter valued at $862,138,000. State Street Corp grew its position in Simpson Manufacturing by 2.9% in the 2nd quarter. State Street Corp now owns 1,308,394 shares of the construction company’s stock valued at $273,910,000 after purchasing an additional 37,206 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Simpson Manufacturing by 0.5% during the first quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock valued at $147,236,000 after buying an additional 4,168 shares during the last quarter. Maren Capital LLC increased its position in shares of Simpson Manufacturing by 0.5% during the second quarter. Maren Capital LLC now owns 513,029 shares of the construction company’s stock worth $107,403,000 after acquiring an additional 2,639 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Simpson Manufacturing by 6.3% in the 1st quarter. First Trust Advisors LP now owns 582,201 shares of the construction company’s stock worth $99,917,000 after acquiring an additional 34,598 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.

Insider Activity

In other news, CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $172.84, for a total value of $605,285.68. Following the sale, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.

Simpson Manufacturing Trading Down 0.2%

Shares of SSD opened at $180.19 on Thursday. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The business has a 50-day moving average of $178.28 and a 200 day moving average of $185.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 3.29. The firm has a market cap of $7.41 billion, a P/E ratio of 19.69 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.72 by $0.37. The company 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%. Simpson Manufacturing’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 earnings per share. As a group, research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.30 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SSD. UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stifel Nicolaus increased their price objective on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Stephens increased 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, Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Simpson Manufacturing presently has a consensus rating of “Hold” and a consensus price target of $216.25.

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.