Y Intercept Hong Kong Ltd Cuts Stake in Simpson Manufacturing Company, Inc. $SSD

Y Intercept Hong Kong Ltd lowered its stake in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 68.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SSD. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 92 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Simpson Manufacturing during the 4th quarter worth approximately $28,000. Los Angeles Capital Management LLC purchased a new stake in shares of Simpson Manufacturing during the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. bought a new stake in shares of Simpson Manufacturing in the 3rd quarter worth approximately $34,000. Finally, Smartleaf Asset Management LLC raised 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 worth $37,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SSD shares. Stifel Nicolaus increased their price objective on Simpson Manufacturing from $205.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Stephens boosted their target price on Simpson Manufacturing from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. DA Davidson upped 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. Robert W. Baird increased their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen lowered Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $214.75.

Simpson Manufacturing Stock Up 0.2%

SSD opened at $189.56 on Thursday. The company has a 50 day moving average of $191.87 and a 200 day moving average of $185.63. The company has a market cap of $7.80 billion, a PE ratio of 22.22 and a beta of 1.30. Simpson Manufacturing Company, Inc. has a 12 month low of $156.32 and a 12 month high of $213.49. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17.

Simpson Manufacturing (NYSE:SSD) last issued its earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $550.08 million. During the same quarter in the previous year, the firm posted $1.85 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current year.

Simpson Manufacturing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend 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 is Thursday, July 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.07%.

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.