Rockefeller Capital Management L.P. bought a new stake in Simpson Manufacturing (NYSE:SSD) during the 1st quarter, HoldingsChannel reports. The fund bought 339,165 shares of the construction company’s stock, valued at approximately $19,533,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Simpson Manufacturing by 61.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,981 shares of the construction company’s stock valued at $172,000 after acquiring an additional 1,137 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Simpson Manufacturing in the fourth quarter valued at $207,000. Silvant Capital Management LLC purchased a new stake in shares of Simpson Manufacturing in the first quarter valued at $207,000. Shelton Capital Management purchased a new stake in shares of Simpson Manufacturing in the fourth quarter valued at $209,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Simpson Manufacturing in the fourth quarter valued at $220,000. 87.16% of the stock is currently owned by institutional investors and hedge funds.
Simpson Manufacturing opened at $62.86 on Monday, Marketbeat reports. The stock has a market capitalization of $2.91 billion, a P/E ratio of 30.97, a P/E/G ratio of 4.48 and a beta of 1.51. Simpson Manufacturing has a 12 month low of $39.82 and a 12 month high of $63.08.
Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings results on Monday, April 30th. The construction company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.06. The company had revenue of $244.80 million for the quarter, compared to the consensus estimate of $237.57 million. Simpson Manufacturing had a net margin of 9.47% and a return on equity of 10.85%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. analysts forecast that Simpson Manufacturing will post 2.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 26th. Investors of record on Thursday, July 5th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, July 3rd. This is an increase from Simpson Manufacturing’s previous quarterly dividend of $0.21. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 42.42%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Simpson Manufacturing from a “sell” rating to a “hold” rating and set a $67.00 target price on the stock in a research note on Thursday, May 3rd. ValuEngine raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Simpson Manufacturing has a consensus rating of “Hold” and an average target price of $64.25.
In other Simpson Manufacturing news, insider Psb Fund Simpson sold 110,329 shares of the firm’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $57.35, for a total transaction of $6,327,368.15. Following the transaction, the insider now owns 467,224 shares of the company’s stock, valued at approximately $26,795,296.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sharon H. Simpson sold 7,915 shares of the firm’s stock in a transaction dated Friday, April 6th. The shares were sold at an average price of $57.32, for a total transaction of $453,687.80. The disclosure for this sale can be found here. Insiders sold a total of 758,207 shares of company stock worth $43,648,455 in the last ninety days. 0.39% of the stock is currently owned by insiders.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, and fiber reinforced materials for use in concrete, masonry, and steel construction, as well as for concrete repair, protection, and strengthening applications.
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