VELA Investment Management LLC Purchases 3,212 Shares of Simpson Manufacturing Company, Inc. $SSD

VELA Investment Management LLC increased its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 20.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,973 shares of the construction company’s stock after acquiring an additional 3,212 shares during the quarter. VELA Investment Management LLC’s holdings in Simpson Manufacturing were worth $3,972,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. 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 worth $25,000 after purchasing an additional 92 shares during the last quarter. Caitlin John LLC bought a new position in shares of Simpson Manufacturing in the 2nd quarter valued at about $27,000. Los Angeles Capital Management LLC bought a new position in shares of Simpson Manufacturing in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Simpson Manufacturing during the 3rd quarter worth approximately $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Simpson Manufacturing during the first quarter worth approximately $37,000. Institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

SSD has been the topic of several analyst reports. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Stephens increased their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the company a “cautious” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, 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. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Simpson Manufacturing has an average rating of “Hold” and an average price target of $216.25.

Simpson Manufacturing Stock Performance

Shares of NYSE:SSD opened at $180.75 on Monday. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 19.75 and a beta of 1.31. The firm’s 50 day simple moving average is $190.95 and its 200 day simple moving average is $187.35. 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 Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49.

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

Simpson Manufacturing Dividend Announcement

The company 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 $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. Simpson Manufacturing’s payout ratio is 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.