Bank of New York Mellon Corp Makes New $59.20 Million Investment in Simpson Manufacturing Company, Inc. $SSD

Bank of New York Mellon Corp purchased a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) in the 2nd quarter, HoldingsChannel reports. The fund purchased 282,765 shares of the construction company’s stock, valued at approximately $59,197,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SSD. State of Wyoming acquired a new position in Simpson Manufacturing during the 2nd quarter worth approximately $1,535,000. Belpointe Asset Management LLC acquired a new stake in Simpson Manufacturing in the second quarter valued at approximately $1,200,000. Fortis Capital Advisors LLC acquired a new stake in Simpson Manufacturing in the second quarter valued at approximately $1,200,000. Ethic Inc. bought a new stake in shares of Simpson Manufacturing during the second quarter valued at approximately $435,000. Finally, Swiss Life Asset Management Ltd increased its holdings in shares of Simpson Manufacturing by 4.0% during the second quarter. Swiss Life Asset Management Ltd now owns 2,505 shares of the construction company’s stock valued at $524,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

NYSE:SSD opened at $184.80 on Thursday. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15. The firm’s fifty day simple moving average is $194.22 and its 200 day simple moving average is $188.55. The stock has a market cap of $7.60 billion, a P/E ratio of 20.20 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.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 EPS 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 during the quarter, compared to analyst estimates of $658.76 million. During the same period in the prior year, the business earned $2.47 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, research analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Announces Dividend

The company 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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio is presently 13.11%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stephens upped 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. Stifel Nicolaus increased their target price on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings upgraded Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $216.25.

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.