Bessemer Group Inc. Buys 3,666 Shares of Simpson Manufacturing Company, Inc. $SSD

Bessemer Group Inc. raised its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,480 shares of the construction company’s stock after buying an additional 3,666 shares during the period. Bessemer Group Inc. owned about 0.44% of Simpson Manufacturing worth $31,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its stake in shares of Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after acquiring an additional 57 shares in the last quarter. Apollon Wealth Management LLC grew its stake in Simpson Manufacturing by 1.3% in the fourth quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock worth $796,000 after purchasing an additional 62 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in Simpson Manufacturing by 0.6% during the 4th quarter. SkyView Investment Advisors LLC now owns 12,268 shares of the construction company’s stock worth $1,981,000 after purchasing an additional 77 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Simpson Manufacturing by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,293 shares of the construction company’s stock worth $4,236,000 after purchasing an additional 89 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after purchasing an additional 92 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SSD has been the subject of several research reports. DA Davidson upped their target price on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Robert W. Baird lifted their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Stifel Nicolaus upped their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings cut shares of Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $214.75.

Simpson Manufacturing Stock Down 2.5%

Simpson Manufacturing stock opened at $188.98 on Friday. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The company has a market cap of $7.77 billion, a PE ratio of 22.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. The business’s 50-day simple moving average is $191.90 and its two-hundred day simple moving average is $185.83.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The firm had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same quarter in the prior year, the firm earned $1.85 earnings per share. Simpson Manufacturing’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Simpson Manufacturing’s previous quarterly dividend of $0.29. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.07%.

Simpson Manufacturing Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.