Lazard Asset Management LLC Purchases 10,828 Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD)

Lazard Asset Management LLC lifted its position in Simpson Manufacturing Co., Inc. (NYSE:SSDGet Rating) by 959.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,957 shares of the construction company’s stock after acquiring an additional 10,828 shares during the quarter. Lazard Asset Management LLC’s holdings in Simpson Manufacturing were worth $1,202,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in Simpson Manufacturing by 115.3% during the first quarter. Signaturefd LLC now owns 239 shares of the construction company’s stock valued at $26,000 after buying an additional 128 shares during the period. Parallel Advisors LLC grew its position in Simpson Manufacturing by 174.3% during the second quarter. Parallel Advisors LLC now owns 277 shares of the construction company’s stock valued at $28,000 after buying an additional 176 shares during the period. Quantbot Technologies LP bought a new position in Simpson Manufacturing during the first quarter valued at about $30,000. Allworth Financial LP grew its position in Simpson Manufacturing by 62.5% during the second quarter. Allworth Financial LP now owns 325 shares of the construction company’s stock valued at $33,000 after buying an additional 125 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Simpson Manufacturing by 45.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 354 shares of the construction company’s stock valued at $35,000 after buying an additional 110 shares during the period. Institutional investors own 89.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. DA Davidson dropped their price objective on shares of Simpson Manufacturing from $123.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, October 25th. StockNews.com downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Finally, TheStreet downgraded shares of Simpson Manufacturing from a “b-” rating to a “c+” rating in a report on Monday, October 31st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $129.00.

Simpson Manufacturing Trading Down 1.7 %

Shares of Simpson Manufacturing stock opened at $90.57 on Friday. Simpson Manufacturing Co., Inc. has a 12-month low of $75.25 and a 12-month high of $141.26. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 11.31 and a beta of 1.18. The company has a current ratio of 3.56, a quick ratio of 2.00 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $83.04 and its 200-day moving average price is $95.38.

Simpson Manufacturing (NYSE:SSDGet Rating) last announced its quarterly earnings results on Monday, October 24th. The construction company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.40. Simpson Manufacturing had a net margin of 16.81% and a return on equity of 27.49%. The firm had revenue of $553.66 million for the quarter, compared to the consensus estimate of $529.94 million. During the same period in the prior year, the firm posted $1.70 earnings per share. The company’s revenue for the quarter was up 39.6% on a year-over-year basis. On average, equities analysts expect that Simpson Manufacturing Co., Inc. will post 7.52 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 26th. Stockholders of record on Thursday, January 5th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, January 4th. Simpson Manufacturing’s payout ratio is 12.98%.

Simpson Manufacturing Profile

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Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.

See Also

Institutional Ownership by Quarter for Simpson Manufacturing (NYSE:SSD)

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