Peterson Wealth Services Boosts Stake in Simpson Manufacturing Company, Inc. $SSD

Peterson Wealth Services boosted its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 257.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,866 shares of the construction company’s stock after buying an additional 3,505 shares during the period. Peterson Wealth Services’ holdings in Simpson Manufacturing were worth $786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SSD. EverSource Wealth Advisors LLC lifted its holdings in Simpson Manufacturing by 135.3% during the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock worth $25,000 after buying an additional 92 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Simpson Manufacturing by 322.5% during the third quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after buying an additional 129 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Simpson Manufacturing during the fourth quarter valued at about $28,000. Los Angeles Capital Management LLC purchased a new stake in shares of Simpson Manufacturing during the fourth quarter valued at about $32,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Simpson Manufacturing during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SSD. Stifel Nicolaus increased their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report 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 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 report on Tuesday, May 12th. Finally, Stephens lifted their target price on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.75.

Simpson Manufacturing Price Performance

Shares of Simpson Manufacturing stock opened at $193.78 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.40 and a debt-to-equity ratio of 0.17. Simpson Manufacturing Company, Inc. has a twelve month low of $151.38 and a twelve month high of $211.98. The business has a 50-day moving average price of $183.18 and a 200 day moving average price of $180.63. The firm has a market cap of $7.97 billion, a PE ratio of 22.72 and a beta of 1.32.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $550.08 million. During the same quarter in the previous year, the business earned $1.85 EPS. Simpson Manufacturing’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts predict that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.6%. This is a boost 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.