Russell Investments Group Ltd. Grows Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

Russell Investments Group Ltd. boosted its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 111.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,633 shares of the construction company’s stock after purchasing an additional 12,432 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Simpson Manufacturing worth $3,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Simpson Manufacturing by 0.4% in the first quarter. Principal Financial Group Inc. now owns 97,163 shares of the construction company’s stock valued at $15,262,000 after acquiring an additional 380 shares during the period. GAMMA Investing LLC raised its stake in shares of Simpson Manufacturing by 163.7% in the first quarter. GAMMA Investing LLC now owns 1,171 shares of the construction company’s stock valued at $184,000 after acquiring an additional 727 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Simpson Manufacturing by 708.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,590 shares of the construction company’s stock valued at $2,135,000 after acquiring an additional 11,908 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Simpson Manufacturing by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company’s stock valued at $776,000 after acquiring an additional 135 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company’s stock valued at $55,000 after acquiring an additional 321 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Insider Buying and Selling at Simpson Manufacturing

In other news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $178.27, for a total transaction of $445,675.00. Following the completion of the transaction, the executive vice president directly owned 7,794 shares of the company’s stock, valued at $1,389,436.38. The trade was a 24.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson upped their price target on shares of Simpson Manufacturing from $180.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Simpson Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $188.50.

Simpson Manufacturing Stock Up 4.4%

Shares of Simpson Manufacturing stock opened at $197.0470 on Friday. Simpson Manufacturing Company, Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 25.13 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. The firm’s 50-day moving average is $169.94 and its two-hundred day moving average is $162.18.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.39 by $0.08. Simpson Manufacturing had a net margin of 14.53% and a return on equity of 17.72%. The firm had revenue of $631.06 million during the quarter, compared to analyst estimates of $601.80 million. During the same period last year, the firm posted $2.31 EPS. Simpson Manufacturing’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 2nd. Simpson Manufacturing’s payout ratio is 14.80%.

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.