Polar Asset Management Partners Inc. Purchases Shares of 25,100 Simpson Manufacturing Company, Inc. $SSD

Polar Asset Management Partners Inc. purchased a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,100 shares of the construction company’s stock, valued at approximately $5,255,000.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Simpson Manufacturing in the 2nd quarter valued at about $862,138,000. ValueAct Holdings L.P. grew its holdings in Simpson Manufacturing by 21.9% during the fourth quarter. ValueAct Holdings L.P. now owns 1,472,142 shares of the construction company’s stock worth $237,707,000 after acquiring an additional 264,200 shares during the period. Dimensional Fund Advisors LP raised its position in Simpson Manufacturing by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the construction company’s stock valued at $141,826,000 after acquiring an additional 31,744 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Simpson Manufacturing by 0.5% in the first quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock valued at $147,236,000 after acquiring an additional 4,168 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Simpson Manufacturing by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 765,322 shares of the construction company’s stock valued at $123,603,000 after acquiring an additional 6,869 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Analysts Set New Price Targets

SSD has been the topic of a number of analyst reports. Stephens raised their price objective on shares of Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a research report on Tuesday, July 28th. Stifel Nicolaus lifted their price objective on shares of Simpson Manufacturing from $217.00 to $218.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $216.25.

Simpson Manufacturing Price Performance

Shares of NYSE SSD opened at $186.66 on Wednesday. The firm has a 50-day simple moving average of $194.36 and a 200-day simple moving average of $188.59. The company has a quick ratio of 2.14, a current ratio of 3.29 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 20.40 and a beta of 1.31. Simpson Manufacturing Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings data 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. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company had revenue of $671.08 million during the quarter, compared to analysts’ expectations of $658.76 million. During the same quarter in the prior year, the company earned $2.47 EPS. Simpson Manufacturing’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 earnings per share for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 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.