Harbor Capital Advisors Inc. Invests $45,000 in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Harbor Capital Advisors Inc. acquired a new stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) during the first quarter, according to its most recent filing with the SEC. The fund acquired 287 shares of the construction company’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Portside Wealth Group LLC grew its stake in Simpson Manufacturing by 20.7% during the first quarter. Portside Wealth Group LLC now owns 1,275 shares of the construction company’s stock valued at $200,000 after acquiring an additional 219 shares in the last quarter. UMB Bank n.a. grew its position in shares of Simpson Manufacturing by 171.5% during the 1st quarter. UMB Bank n.a. now owns 562 shares of the construction company’s stock valued at $88,000 after purchasing an additional 355 shares in the last quarter. Impact Capital Partners LLC grew its position in shares of Simpson Manufacturing by 10.5% during the 1st quarter. Impact Capital Partners LLC now owns 7,433 shares of the construction company’s stock valued at $1,168,000 after purchasing an additional 704 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of Simpson Manufacturing by 26.8% in the first quarter. Procyon Advisors LLC now owns 2,525 shares of the construction company’s stock worth $397,000 after purchasing an additional 534 shares during the period. Finally, Vest Financial LLC purchased a new stake in shares of Simpson Manufacturing in the first quarter worth $2,239,000. 93.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson reduced their target price on Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th.

Simpson Manufacturing Trading Down 0.9%

Shares of SSD opened at $155.46 on Monday. Simpson Manufacturing Co., Inc. has a 1-year low of $137.35 and a 1-year high of $197.82. The company has a market capitalization of $6.50 billion, a P/E ratio of 20.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.21 and a quick ratio of 1.59. The firm’s 50 day simple moving average is $154.86 and its 200 day simple moving average is $162.51.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, April 28th. The construction company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. The business had revenue of $538.90 million for the quarter, compared to analysts’ expectations of $531.81 million. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.16 annualized dividend and a yield of 0.75%. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.28. Simpson Manufacturing’s dividend payout ratio is currently 15.10%.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. 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.