Simpson Manufacturing Company, Inc. $SSD Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,548 shares of the construction company’s stock after acquiring an additional 3,328 shares during the period. Principal Financial Group Inc. owned about 0.22% of Simpson Manufacturing worth $15,883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in Simpson Manufacturing by 135.3% during the second 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. V Square Quantitative Management LLC acquired a new stake in Simpson Manufacturing during the 4th quarter worth about $28,000. Los Angeles Capital Management LLC purchased a new position in shares of Simpson Manufacturing during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. purchased a new position in shares of Simpson Manufacturing during the 3rd quarter valued at about $34,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Simpson Manufacturing by 33.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock valued at $37,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

Shares of NYSE:SSD opened at $189.11 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 2.02. Simpson Manufacturing Company, Inc. has a 1 year low of $156.32 and a 1 year high of $213.49. The firm has a market capitalization of $7.78 billion, a PE ratio of 22.17 and a beta of 1.30. The business’s 50 day moving average price is $192.05 and its 200-day moving average price is $186.64.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data on Monday, April 27th. The construction company reported $2.13 earnings per share 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 company had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. During the same quarter last year, the firm posted $1.85 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that Simpson Manufacturing Company, Inc. will post 9.13 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd were given a dividend of $0.30 per share. The ex-dividend date was Thursday, July 2nd. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.07%.

Analyst Ratings Changes

A number of analysts have recently commented on SSD shares. 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 shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Weiss Ratings downgraded Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Stifel Nicolaus increased their target price on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Robert W. Baird lifted their price target 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. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $214.75.

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.