Royal Bank of Canada Reduces Position in Simpson Manufacturing Company, Inc. $SSD

Royal Bank of Canada lowered its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 11.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,395 shares of the construction company’s stock after selling 22,908 shares during the period. Royal Bank of Canada owned 0.42% of Simpson Manufacturing worth $29,757,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position 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 valued at $37,000 after acquiring an additional 57 shares during the period. Apollon Wealth Management LLC grew its stake in Simpson Manufacturing by 1.3% during the 4th quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock valued at $796,000 after purchasing an additional 62 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in Simpson Manufacturing by 0.6% during the 4th quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock valued at $1,981,000 after purchasing an additional 77 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Simpson Manufacturing by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock valued at $4,236,000 after purchasing an additional 89 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after purchasing an additional 92 shares during the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Performance

NYSE SSD opened at $196.53 on Wednesday. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 21.48 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a twelve month low of $156.32 and a twelve month high of $213.49. The company has a current ratio of 3.29, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $193.42 and a 200 day moving average of $187.59.

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 for the quarter, compared to analyst estimates of $658.76 million. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.Simpson Manufacturing’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. Sell-side analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.11 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be given a $0.30 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is 13.11%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SSD shares. Robert W. Baird increased their price target on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Stifel Nicolaus upped their price objective on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a report on Monday. DA Davidson raised their target price on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Weiss Ratings raised 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $216.25.

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.