Fortis Capital Advisors LLC Invests $1.20 Million in Simpson Manufacturing Company, Inc. $SSD

Fortis Capital Advisors LLC acquired a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) in the 2nd quarter, HoldingsChannel reports. The fund acquired 5,733 shares of the construction company’s stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Candriam S.C.A. acquired a new position in shares of Simpson Manufacturing during the 1st quarter worth about $7,133,000. Cooke & Bieler LP grew its holdings in Simpson Manufacturing by 77.9% during the fourth quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock worth $20,940,000 after purchasing an additional 56,769 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Simpson Manufacturing during the first quarter worth approximately $4,424,000. Comerica Bank raised its stake in Simpson Manufacturing by 21.6% in the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock valued at $19,921,000 after buying an additional 21,889 shares during the period. Finally, Brown Advisory Inc. raised its stake in Simpson Manufacturing by 67.0% in the fourth quarter. Brown Advisory Inc. now owns 327,606 shares of the construction company’s stock valued at $52,899,000 after buying an additional 131,381 shares during the period. 93.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented 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. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. Stephens upped their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a report on Tuesday, July 28th. Stifel Nicolaus increased their price objective on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, DA Davidson raised their target price on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Simpson Manufacturing currently has a consensus rating of “Hold” and a consensus price target of $216.25.

Simpson Manufacturing Stock Performance

SSD opened at $193.40 on Friday. The business has a fifty day simple moving average of $194.59 and a 200 day simple moving average of $188.12. The company has a market capitalization of $7.96 billion, a PE ratio of 21.14 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.29 and a quick ratio of 2.14.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, July 27th. The construction company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.37. Simpson Manufacturing had a return on equity of 18.45% and a net margin of 15.65%.The firm had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. During the same quarter last year, the business earned $2.47 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts expect that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 13.11%.

Simpson Manufacturing Company 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.