BlackRock Inc. lifted its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Rating) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,939,054 shares of the construction company’s stock after buying an additional 34,815 shares during the quarter. BlackRock Inc. owned about 11.59% of Simpson Manufacturing worth $387,224,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Simpson Manufacturing by 45.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 354 shares of the construction company’s stock worth $35,000 after buying an additional 110 shares during the period. HighTower Advisors LLC grew its holdings in Simpson Manufacturing by 4.2% in the first quarter. HighTower Advisors LLC now owns 2,757 shares of the construction company’s stock worth $300,000 after purchasing an additional 111 shares during the period. Summit Global Investments grew its holdings in Simpson Manufacturing by 1.7% in the second quarter. Summit Global Investments now owns 7,121 shares of the construction company’s stock worth $716,000 after purchasing an additional 121 shares during the period. Van ECK Associates Corp grew its holdings in Simpson Manufacturing by 9.9% in the third quarter. Van ECK Associates Corp now owns 1,441 shares of the construction company’s stock worth $113,000 after purchasing an additional 130 shares during the period. Finally, Bank of Montreal Can grew its holdings in Simpson Manufacturing by 4.0% in the first quarter. Bank of Montreal Can now owns 3,420 shares of the construction company’s stock worth $389,000 after purchasing an additional 133 shares during the period. 91.47% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SSD. Robert W. Baird raised their price target on shares of Simpson Manufacturing from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. StockNews.com upgraded shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Friday, November 18th. Finally, DA Davidson raised their price target on shares of Simpson Manufacturing from $90.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, February 7th.
Simpson Manufacturing Stock Down 1.3 %
Simpson Manufacturing (NYSE:SSD – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.24. The firm had revenue of $475.62 million during the quarter, compared to analysts’ expectations of $475.73 million. Simpson Manufacturing had a net margin of 15.78% and a return on equity of 25.36%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share. On average, equities research analysts forecast that Simpson Manufacturing Co., Inc. will post 6.46 EPS for the current fiscal year.
Simpson Manufacturing Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 27th. Stockholders of record on Thursday, April 6th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, April 5th. Simpson Manufacturing’s dividend payout ratio is currently 13.42%.
Insider Activity
In related news, CFO Brian J. Magstadt sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the chief financial officer now directly owns 17,547 shares of the company’s stock, valued at $1,754,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Roger Dankel sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $112.57, for a total transaction of $168,855.00. Following the transaction, the executive vice president now directly owns 36,659 shares of the company’s stock, valued at $4,126,703.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian J. Magstadt sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the chief financial officer now directly owns 17,547 shares in the company, valued at $1,754,700. The disclosure for this sale can be found here. Insiders sold 4,900 shares of company stock worth $515,191 over the last three months. 0.60% of the stock is currently owned by insiders.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc engages in the manufacture and marketing of building and construction solutions. It offers wood construction products, which include connectors, truss plates, fastening systems, and lateral systems primarily used to strengthen, support, and connect wood applications in residential and commercial construction, as well as do-it-yourself (DIY) projects, concrete construction products such as anchor, repair, and protection, and strengthening products for concrete, brick, and masonry applications in industrial, infrastructure, residential commercial, and DIY projects.
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