Simpson Manufacturing Co., Inc. (NYSE:SSD) Stock Holdings Increased by California Public Employees Retirement System

Posted by Defense World Staff on May 17th, 2023

California Public Employees Retirement System lifted its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD – Get Rating) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,654 shares of the construction company’s stock after purchasing an additional 804 shares during the quarter. California Public Employees Retirement System owned 0.24% of Simpson Manufacturing worth $9,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in SSD. Quantbot Technologies LP acquired a new position in Simpson Manufacturing in the first quarter worth approximately $30,000. Wipfli Financial Advisors LLC acquired a new position in Simpson Manufacturing in the third quarter worth approximately $37,000. Eagle Bay Advisors LLC increased its holdings in Simpson Manufacturing by 25.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 538 shares of the construction company’s stock worth $48,000 after buying an additional 109 shares during the last quarter. Huntington National Bank increased its holdings in Simpson Manufacturing by 19.5% in the third quarter. Huntington National Bank now owns 889 shares of the construction company’s stock worth $70,000 after buying an additional 145 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Simpson Manufacturing in the first quarter worth approximately $84,000. 91.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SSD has been the topic of several analyst reports. DA Davidson increased their price target on Simpson Manufacturing from $120.00 to $135.00 in a report on Tuesday, April 25th. StockNews.com initiated coverage on Simpson Manufacturing in a report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Robert W. Baird increased their price target on Simpson Manufacturing from $125.00 to $140.00 in a report on Tuesday, April 25th.

Insider Buying and Selling

In related news, Director James S. Andrasick sold 900 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $107.04, for a total value of $96,336.00. Following the completion of the transaction, the director now directly owns 278 shares of the company’s stock, valued at $29,757.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Simpson Manufacturing news, EVP Roger Dankel sold 1,500 shares of Simpson Manufacturing stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $112.57, for a total transaction of $168,855.00. Following the completion of the transaction, the executive vice president now directly owns 36,659 shares of the company’s stock, valued at $4,126,703.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James S. Andrasick sold 900 shares of Simpson Manufacturing stock in a transaction on Friday, February 24th. The shares were sold at an average price of $107.04, for a total value of $96,336.00. Following the transaction, the director now directly owns 278 shares of the company’s stock, valued at $29,757.12. The disclosure for this sale can be found here. Insiders sold a total of 30,536 shares of company stock valued at $3,638,549 over the last ninety days. 0.65% of the stock is owned by company insiders.

Simpson Manufacturing Stock Up 0.0 %

SSD opened at $124.95 on Wednesday. Simpson Manufacturing Co., Inc. has a 1-year low of $75.25 and a 1-year high of $128.08. The company has a current ratio of 3.70, a quick ratio of 1.95 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 16.40 and a beta of 1.23. The business has a 50 day moving average of $112.52 and a 200-day moving average of $102.93.

Simpson Manufacturing (NYSE:SSD – Get Rating) last posted its quarterly earnings data on Monday, April 24th. The construction company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.59. Simpson Manufacturing had a return on equity of 23.71% and a net margin of 15.18%. The company had revenue of $534.40 million during the quarter, compared to analysts’ expectations of $486.76 million. During the same period in the prior year, the business earned $2.18 earnings per share. Simpson Manufacturing’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Simpson Manufacturing Co., Inc. will post 7.21 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Thursday, July 6th will be given a $0.27 dividend. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, July 5th. Simpson Manufacturing’s dividend payout ratio (DPR) is 13.65%.

About Simpson Manufacturing

(Get Rating)

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.