Louisiana State Employees Retirement System Acquires Shares of 12,000 Simpson Manufacturing Company, Inc. $SSD

Louisiana State Employees Retirement System acquired a new position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 12,000 shares of the construction company’s stock, valued at approximately $2,059,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in Simpson Manufacturing by 135.3% in the second quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after buying an additional 92 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Simpson Manufacturing during the 4th quarter worth approximately $28,000. Los Angeles Capital Management LLC acquired a new position in shares of Simpson Manufacturing in the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. acquired a new position in shares of Simpson Manufacturing in the 3rd quarter worth approximately $34,000. Finally, Smartleaf Asset Management LLC increased 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 acquiring an additional 57 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.

Simpson Manufacturing Stock Performance

SSD stock opened at $209.29 on Wednesday. Simpson Manufacturing Company, Inc. has a 1 year low of $154.22 and a 1 year high of $213.49. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 24.54 and a beta of 1.32. 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’s fifty day moving average is $190.58 and its two-hundred day moving average is $183.68.

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

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd 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 0.6%. This is a boost 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 13.60%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price objective on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Wall Street Zen lowered shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings raised shares of Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. DA Davidson raised their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus lifted their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.75.

About Simpson Manufacturing

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.