Rhumbline Advisers Boosts Stake in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Rhumbline Advisers raised its position in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,158 shares of the construction company’s stock after buying an additional 493 shares during the period. Rhumbline Advisers owned approximately 0.32% of Simpson Manufacturing worth $15,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its position in Simpson Manufacturing by 10.1% in the 1st quarter. Citigroup Inc. now owns 17,914 shares of the construction company’s stock valued at $1,964,000 after buying an additional 1,637 shares during the last quarter. Guggenheim Capital LLC boosted its position in Simpson Manufacturing by 25.0% in the 1st quarter. Guggenheim Capital LLC now owns 15,271 shares of the construction company’s stock valued at $1,674,000 after buying an additional 3,052 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Simpson Manufacturing during the first quarter worth about $336,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Simpson Manufacturing during the first quarter worth about $544,000. Finally, Resources Investment Advisors LLC. bought a new position in shares of Simpson Manufacturing during the first quarter worth about $810,000. 89.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Simpson Manufacturing news, EVP Roger Dankel sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $129.31, for a total value of $258,620.00. Following the sale, the executive vice president now owns 34,659 shares in the company, valued at $4,481,755.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Simpson Manufacturing news, EVP Roger Dankel sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $129.31, for a total value of $258,620.00. Following the sale, the executive vice president now owns 34,659 shares in the company, valued at $4,481,755.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James S. Andrasick sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $156.07, for a total transaction of $156,070.00. Following the completion of the sale, the director now owns 724 shares in the company, valued at approximately $112,994.68. The disclosure for this sale can be found here. Insiders have sold 12,958 shares of company stock valued at $1,793,642 over the last quarter. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

SSD has been the topic of several research analyst reports. Robert W. Baird increased their price target on shares of Simpson Manufacturing from $176.00 to $190.00 in a research report on Tuesday, July 25th. DA Davidson increased their price target on shares of Simpson Manufacturing from $135.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 25th. Finally, StockNews.com initiated coverage on shares of Simpson Manufacturing in a research report on Thursday, August 17th. They set a “buy” rating on the stock.

Simpson Manufacturing Stock Performance

Shares of NYSE SSD opened at $159.70 on Friday. The company has a quick ratio of 2.14, a current ratio of 3.46 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $148.98 and its two-hundred day moving average price is $127.48. Simpson Manufacturing Co., Inc. has a 52-week low of $75.25 and a 52-week high of $166.02. The stock has a market capitalization of $6.81 billion, a P/E ratio of 20.06 and a beta of 1.24.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, July 24th. The construction company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.37. Simpson Manufacturing had a net margin of 15.78% and a return on equity of 23.43%. The firm had revenue of $597.60 million for the quarter, compared to analysts’ expectations of $553.23 million. During the same quarter last year, the company posted $2.16 earnings per share. Simpson Manufacturing’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that Simpson Manufacturing Co., Inc. will post 8.22 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Thursday, October 5th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $1.08 dividend on an annualized basis and a yield of 0.68%. Simpson Manufacturing’s dividend payout ratio is currently 13.57%.

About Simpson Manufacturing

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.