OneDigital Investment Advisors LLC Purchases Shares of 9,802 Simpson Manufacturing Company, Inc. $SSD

OneDigital Investment Advisors LLC acquired a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD) during the second quarter, HoldingsChannel reports. The institutional investor acquired 9,802 shares of the construction company’s stock, valued at approximately $2,052,000.

Several other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Simpson Manufacturing by 135.3% during 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 purchased a new stake in Simpson Manufacturing during the fourth quarter valued at $32,000. Brown Brothers Harriman & Co. purchased a new stake in Simpson Manufacturing during the third quarter valued at $34,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Simpson Manufacturing during the first quarter valued at $37,000. Finally, Smartleaf Asset Management LLC lifted its position in Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after purchasing an additional 57 shares during the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SSD shares. Stephens boosted their target price on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a report on Tuesday, July 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Robert W. Baird lifted their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Stifel Nicolaus boosted 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. Finally, DA Davidson upped their price objective on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Simpson Manufacturing currently has a consensus rating of “Hold” and an average price target of $216.25.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $193.40 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14. The firm has a market capitalization of $7.96 billion, a P/E ratio of 21.14 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 1-year low of $156.32 and a 1-year high of $213.49. The company’s 50-day moving average is $194.59 and its 200 day moving average is $188.16.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.37. The business had revenue of $671.08 million during 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%.The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.47 earnings per share. Research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.11%.

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.