Novem Group Invests $695,000 in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Novem Group bought a new stake in Simpson Manufacturing Co., Inc. (NYSE:SSD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,189 shares of the construction company’s stock, valued at approximately $695,000.

A number of other large investors have also added to or reduced their stakes in the company. New York Life Investment Management LLC purchased a new position in Simpson Manufacturing in the 4th quarter valued at about $738,000. Van ECK Associates Corp lifted its stake in shares of Simpson Manufacturing by 29.3% in the fourth quarter. Van ECK Associates Corp now owns 36,052 shares of the construction company’s stock worth $5,979,000 after acquiring an additional 8,170 shares in the last quarter. Financial Advocates Investment Management purchased a new position in Simpson Manufacturing in the fourth quarter valued at about $401,000. KBC Group NV grew its stake in Simpson Manufacturing by 54.7% during the 4th quarter. KBC Group NV now owns 1,866 shares of the construction company’s stock valued at $309,000 after purchasing an additional 660 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Simpson Manufacturing by 15.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 287,422 shares of the construction company’s stock valued at $47,255,000 after purchasing an additional 38,505 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Simpson Manufacturing Stock Down 4.0%

Shares of Simpson Manufacturing stock opened at $155.32 on Thursday. The company has a quick ratio of 1.59, a current ratio of 3.21 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $154.26 and a 200 day moving average price of $166.05. Simpson Manufacturing Co., Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The firm has a market cap of $6.50 billion, a P/E ratio of 20.44 and a beta of 1.34.

Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. The business had revenue of $538.90 million during the quarter, compared to the consensus estimate of $531.81 million. During the same period in the previous year, the business earned $1.77 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Simpson Manufacturing Co., Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, July 3rd. Simpson Manufacturing’s dividend payout ratio is 15.10%.

Insiders Place Their Bets

In related news, EVP Michael Andersen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $169.98, for a total transaction of $169,980.00. Following the completion of the sale, the executive vice president now owns 8,810 shares of the company’s stock, valued at $1,497,523.80. This represents a 10.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SSD has been the subject of several research analyst reports. DA Davidson reduced their target price on Simpson Manufacturing from $195.00 to $185.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Robert W. Baird cut their price target on shares of Simpson Manufacturing from $196.00 to $192.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.