Y Intercept Hong Kong Ltd Lowers Stock Holdings in Simpson Manufacturing Company, Inc. $SSD

Y Intercept Hong Kong Ltd reduced its position in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 68.9% in the first quarter, Holdings Channel.com reports. The fund owned 1,835 shares of the construction company’s stock after selling 4,074 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Simpson Manufacturing were worth $315,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SSD. Cooke & Bieler LP boosted its holdings in Simpson Manufacturing by 77.9% in the 4th quarter. Cooke & Bieler LP now owns 129,685 shares of the construction company’s stock valued at $20,940,000 after purchasing an additional 56,769 shares during the period. Westview Management dba Westview Investment Advisors bought a new position in shares of Simpson Manufacturing in the fourth quarter worth $2,074,000. Comerica Bank increased its holdings in shares of Simpson Manufacturing by 21.6% in the fourth quarter. Comerica Bank now owns 123,375 shares of the construction company’s stock worth $19,921,000 after purchasing an additional 21,889 shares during the period. SG Americas Securities LLC raised its position in shares of Simpson Manufacturing by 2,359.1% in the fourth quarter. SG Americas Securities LLC now owns 62,364 shares of the construction company’s stock worth $10,070,000 after buying an additional 59,828 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Simpson Manufacturing by 67.0% in the fourth quarter. Brown Advisory Inc. now owns 327,606 shares of the construction company’s stock worth $52,899,000 after buying an additional 131,381 shares in the last quarter. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $189.56 on Thursday. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 3.40. The stock has a market cap of $7.80 billion, a P/E ratio of 22.22 and a beta of 1.30. The firm’s fifty day moving average price is $191.87 and its 200-day moving average price is $185.63.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.29. The company had revenue of $587.96 million during the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a net margin of 14.92% and a return on equity of 17.72%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. On average, equities research analysts expect that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.6%. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio is presently 14.07%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SSD shares. 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. Stephens raised their price target on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Weiss Ratings cut Simpson Manufacturing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. DA Davidson lifted their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus boosted their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.