Bank of New York Mellon Corp Increases Stock Position in Simpson Manufacturing Company, Inc. $SSD

Bank of New York Mellon Corp increased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 296,611 shares of the construction company’s stock after acquiring an additional 5,121 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of Simpson Manufacturing worth $50,904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ValueAct Holdings L.P. raised its holdings in shares of Simpson Manufacturing by 21.9% in the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock valued at $237,707,000 after buying an additional 264,200 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Simpson Manufacturing by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company’s stock worth $141,826,000 after buying an additional 31,744 shares during the last quarter. Geode Capital Management LLC increased its position in Simpson Manufacturing by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company’s stock valued at $123,603,000 after acquiring an additional 6,869 shares during the period. Bank of Montreal Can increased its position in Simpson Manufacturing by 11,044.7% in the 4th quarter. Bank of Montreal Can now owns 678,490 shares of the construction company’s stock valued at $109,556,000 after acquiring an additional 672,402 shares during the period. Finally, Capital International Investors lifted its position in Simpson Manufacturing by 93.7% during the 4th quarter. Capital International Investors now owns 663,195 shares of the construction company’s stock worth $107,086,000 after acquiring an additional 320,870 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen downgraded Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. DA Davidson increased their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Stifel Nicolaus lifted their price objective on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Robert W. Baird boosted their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Finally, Stephens upped their price objective on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $214.75.

Simpson Manufacturing Price Performance

Simpson Manufacturing stock opened at $189.11 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. Simpson Manufacturing Company, Inc. has a one year low of $156.32 and a one year high of $213.49. The company has a market cap of $7.78 billion, a P/E ratio of 22.17 and a beta of 1.30. The business has a fifty day moving average of $192.05 and a two-hundred day moving average of $186.64.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.29. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The business had revenue of $587.96 million during the quarter, compared to the consensus estimate of $550.08 million. During the same quarter last year, the firm posted $1.85 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts predict that Simpson Manufacturing Company, Inc. will post 9.13 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio is 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.