NewEdge Wealth LLC Purchases Shares of 24,032 Simpson Manufacturing Company, Inc. $SSD

NewEdge Wealth LLC purchased a new stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,032 shares of the construction company’s stock, valued at approximately $5,031,000.

Several other large investors have also recently made changes to their positions in SSD. EverSource Wealth Advisors LLC boosted its position in shares of 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 period. Los Angeles Capital Management LLC acquired a new stake in Simpson Manufacturing in the 4th quarter valued at approximately $32,000. Brown Brothers Harriman & Co. purchased a new stake in Simpson Manufacturing in the third quarter valued at approximately $34,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Simpson Manufacturing in the first quarter valued at approximately $37,000. Finally, Smartleaf Asset Management LLC lifted its stake in Simpson Manufacturing by 33.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 226 shares of the construction company’s stock worth $37,000 after purchasing an additional 57 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Performance

Shares of SSD stock opened at $193.01 on Thursday. 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 Company, Inc. has a 52 week low of $156.32 and a 52 week high of $213.49. The stock has a market capitalization of $7.94 billion, a PE ratio of 21.09 and a beta of 1.31. The firm has a 50 day moving average of $194.85 and a two-hundred day moving average of $188.47.

Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, July 27th. The construction company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.72 by $0.37. The business had revenue of $671.08 million during the quarter, compared to the consensus estimate of $658.76 million. Simpson Manufacturing had a net margin of 15.65% and a return on equity of 18.45%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.47 earnings per share. On average, research analysts predict that Simpson Manufacturing Company, Inc. will post 9.09 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 1st. Simpson Manufacturing’s payout ratio is presently 13.11%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SSD. Stephens raised their price target on Simpson Manufacturing from $210.00 to $215.00 and gave the stock a “cautious” rating in a research report on Tuesday, July 28th. UBS Group reiterated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Robert W. Baird increased their target price 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 cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Simpson Manufacturing presently has a consensus rating of “Hold” and an average target price of $216.25.

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.