Bessemer Group Inc. Boosts Stake in Simpson Manufacturing Company, Inc. $SSD

Bessemer Group Inc. increased its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 28.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,447 shares of the construction company’s stock after buying an additional 30,369 shares during the period. Bessemer Group Inc. owned 0.32% of Simpson Manufacturing worth $21,037,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new stake in shares of Simpson Manufacturing in the second quarter worth about $31,000. CWM LLC lifted its position in shares of Simpson Manufacturing by 39.1% in the first quarter. CWM LLC now owns 331 shares of the construction company’s stock worth $52,000 after buying an additional 93 shares in the last quarter. Steph & Co. purchased a new stake in shares of Simpson Manufacturing in the second quarter worth about $53,000. Bayforest Capital Ltd purchased a new stake in shares of Simpson Manufacturing in the first quarter worth about $72,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Simpson Manufacturing by 50.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 548 shares of the construction company’s stock valued at $85,000 after purchasing an additional 184 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Simpson Manufacturing

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the transaction, the executive vice president owned 7,794 shares of the company’s stock, valued at $1,389,436.38. This represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Andersen sold 1,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the transaction, the executive vice president directly owned 7,810 shares in the company, valued at approximately $1,531,775.30. This trade represents a 11.35% decrease in their position. The SEC filing for this sale provides additional information. 0.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SSD. DA Davidson restated a “neutral” rating and set a $190.00 price objective on shares of Simpson Manufacturing in a research report on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of Simpson Manufacturing in a research report on Wednesday, October 8th. Finally, Robert W. Baird upped their price objective on Simpson Manufacturing from $190.00 to $212.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $201.00.

Simpson Manufacturing Trading Up 6.1%

SSD opened at $186.61 on Wednesday. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 22.73 and a beta of 1.28. The stock’s 50 day moving average price is $180.89 and its 200-day moving average price is $168.69. Simpson Manufacturing Company, Inc. has a one year low of $137.35 and a one year high of $197.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 3.37.

Simpson Manufacturing (NYSE:SSD) last released its earnings results on Monday, October 27th. The construction company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.21. The firm had revenue of $623.51 million for the quarter, compared to analysts’ expectations of $607.79 million. Simpson Manufacturing had a return on equity of 18.46% and a net margin of 14.90%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. On average, equities analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 22nd. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Simpson Manufacturing’s dividend payout ratio is currently 14.13%.

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.