Man Group plc Makes New $5.35 Million Investment in Simpson Manufacturing Company, Inc. $SSD

Man Group plc bought a new position in Simpson Manufacturing Company, Inc. (NYSE:SSD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,556 shares of the construction company’s stock, valued at approximately $5,350,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SSD. EverSource Wealth Advisors LLC raised its holdings in Simpson Manufacturing by 135.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after acquiring an additional 92 shares during the period. Los Angeles Capital Management LLC purchased a new position in Simpson Manufacturing during the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. purchased a new position in Simpson Manufacturing in the third quarter worth $34,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Simpson Manufacturing during the 1st quarter valued at about $37,000. Finally, Smartleaf Asset Management LLC boosted its stake 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 purchasing an additional 57 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Price Performance

Shares of Simpson Manufacturing stock opened at $182.04 on Monday. The business has a 50 day moving average of $193.49 and a 200 day moving average of $188.36. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49. The company has a market cap of $7.49 billion, a PE ratio of 19.90 and a beta of 1.31. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.37. The company had revenue of $671.08 million for the quarter, compared to analysts’ expectations of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. Simpson Manufacturing’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 earnings per share. As a group, equities research analysts forecast that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio is presently 13.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. UBS Group reissued a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Stephens upped their price target on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research report on Tuesday, July 28th. Stifel Nicolaus raised their price target on Simpson Manufacturing from $217.00 to $218.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, two have given 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 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.