Clearbridge Investments LLC Makes New Investment in Simpson Manufacturing Company, Inc. $SSD

Clearbridge Investments LLC bought a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 93,625 shares of the construction company’s stock, valued at approximately $15,118,000.

Several other hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC lifted its position in shares of Simpson Manufacturing by 1.3% during the 4th quarter. Apollon Wealth Management LLC now owns 4,927 shares of the construction company’s stock worth $796,000 after buying an additional 62 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of 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 buying an additional 89 shares in the last quarter. NewEdge Wealth LLC grew its stake in Simpson Manufacturing by 0.3% in the 3rd quarter. NewEdge Wealth LLC now owns 29,280 shares of the construction company’s stock valued at $4,968,000 after purchasing an additional 92 shares during the period. EverSource Wealth Advisors LLC grew its stake in Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after purchasing an additional 92 shares during the period. Finally, Tidal Investments LLC grew its stake in Simpson Manufacturing by 4.6% in the 2nd quarter. Tidal Investments LLC now owns 2,120 shares of the construction company’s stock valued at $329,000 after purchasing an additional 94 shares during the period. Institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus upped their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Robert W. Baird upped their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. DA Davidson lifted their price objective on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Stephens lifted 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. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.75.

Simpson Manufacturing Price Performance

Shares of NYSE SSD opened at $186.44 on Thursday. Simpson Manufacturing Company, Inc. has a 1-year low of $151.38 and a 1-year high of $211.98. The stock has a fifty day simple moving average of $182.73 and a two-hundred day simple moving average of $180.41. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 21.86 and a beta of 1.32. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data 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 return on equity of 17.72% and a net margin of 14.92%.The business had revenue of $587.96 million for the quarter, compared to analysts’ expectations of $550.08 million. During the same period in the previous year, the business posted $1.85 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be paid a $0.30 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 13.60%.

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.