MetLife Investment Advisors LLC lifted its stake in shares of Simpson Manufacturing Co, Inc. (NYSE:SSD) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,988 shares of the construction company’s stock after purchasing an additional 1,310 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Simpson Manufacturing were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Simpson Manufacturing by 38.2% in the first quarter. SG Americas Securities LLC now owns 10,914 shares of the construction company’s stock valued at $629,000 after buying an additional 3,016 shares in the last quarter. Swiss National Bank grew its stake in shares of Simpson Manufacturing by 3.6% in the first quarter. Swiss National Bank now owns 70,000 shares of the construction company’s stock valued at $4,031,000 after buying an additional 2,400 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Simpson Manufacturing by 3.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 293,563 shares of the construction company’s stock valued at $16,907,000 after buying an additional 10,102 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Simpson Manufacturing by 4.0% during the 1st quarter. Thrivent Financial for Lutherans now owns 27,187 shares of the construction company’s stock worth $1,566,000 after purchasing an additional 1,042 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Simpson Manufacturing by 50.3% during the 1st quarter. JPMorgan Chase & Co. now owns 321,777 shares of the construction company’s stock worth $18,531,000 after purchasing an additional 107,643 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.
Several research analysts recently commented on the company. Sidoti boosted their target price on Simpson Manufacturing from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research raised Simpson Manufacturing from a “sell” rating to a “hold” rating and set a $82.00 target price for the company in a research note on Thursday, August 2nd. ValuEngine raised Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, Robert W. Baird set a $75.00 target price on Simpson Manufacturing and gave the stock a “buy” rating in a research note on Monday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $74.75.
Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, July 30th. The construction company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.21. Simpson Manufacturing had a return on equity of 12.61% and a net margin of 10.58%. The firm had revenue of $308.01 million during the quarter, compared to analysts’ expectations of $282.02 million. During the same period in the previous year, the firm posted $0.59 EPS. Simpson Manufacturing’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts anticipate that Simpson Manufacturing Co, Inc. will post 3.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Thursday, October 4th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, October 3rd. This represents a $0.88 annualized dividend and a yield of 1.21%. Simpson Manufacturing’s payout ratio is 44.44%.
In related news, Director James S. Andrasick sold 1,950 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $73.43, for a total transaction of $143,188.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.
Simpson Manufacturing Company Profile
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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