State of New Jersey Common Pension Fund D Has $1.98 Million Position in Simpson Manufacturing Co., Inc. (NYSE:SSD)

State of New Jersey Common Pension Fund D lifted its stake in shares of Simpson Manufacturing Co., Inc. (NYSE:SSDGet Rating) by 6.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,194 shares of the construction company’s stock after acquiring an additional 1,634 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Simpson Manufacturing were worth $1,975,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Simpson Manufacturing by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,191,973 shares of the construction company’s stock worth $457,093,000 after buying an additional 27,350 shares during the last quarter. Capital International Investors raised its holdings in Simpson Manufacturing by 9.5% during the first quarter. Capital International Investors now owns 2,083,514 shares of the construction company’s stock worth $227,186,000 after buying an additional 180,856 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Simpson Manufacturing by 26.0% during the second quarter. JPMorgan Chase & Co. now owns 1,720,161 shares of the construction company’s stock worth $173,066,000 after buying an additional 355,069 shares during the last quarter. State Street Corp raised its holdings in Simpson Manufacturing by 1.7% during the first quarter. State Street Corp now owns 1,347,592 shares of the construction company’s stock worth $146,941,000 after buying an additional 22,435 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Simpson Manufacturing by 10.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 687,325 shares of the construction company’s stock worth $53,885,000 after buying an additional 62,736 shares during the last quarter. Institutional investors and hedge funds own 91.47% of the company’s stock.

Simpson Manufacturing Price Performance

SSD opened at $95.83 on Friday. The firm has a market cap of $4.08 billion, a P/E ratio of 11.96 and a beta of 1.17. The firm has a 50-day moving average of $93.00 and a 200 day moving average of $92.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.00 and a current ratio of 3.56. Simpson Manufacturing Co., Inc. has a fifty-two week low of $75.25 and a fifty-two week high of $124.48.

Simpson Manufacturing (NYSE:SSDGet Rating) last posted its quarterly earnings results on Monday, October 24th. The construction company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.40. The company had revenue of $553.66 million during the quarter, compared to analyst estimates of $529.94 million. Simpson Manufacturing had a net margin of 16.81% and a return on equity of 27.49%. The firm’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 earnings per share. On average, research analysts expect that Simpson Manufacturing Co., Inc. will post 7.52 EPS for the current year.

Simpson Manufacturing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 26th. Investors of record on Thursday, January 5th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.04 annualized dividend and a yield of 1.09%. Simpson Manufacturing’s payout ratio is currently 12.98%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DA Davidson lowered their price objective on shares of Simpson Manufacturing from $123.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, October 25th. TheStreet downgraded shares of Simpson Manufacturing from a “b-” rating to a “c+” rating in a report on Monday, October 31st. Finally, StockNews.com upgraded shares of Simpson Manufacturing from a “hold” rating to a “buy” rating in a report on Friday, November 18th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Insider Activity at Simpson Manufacturing

In other Simpson Manufacturing news, CFO Brian J. Magstadt sold 2,500 shares of the stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief financial officer now owns 17,547 shares in the company, valued at $1,754,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

Simpson Manufacturing Company Profile

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Simpson Manufacturing Co, Inc engages in the manufacture and marketing of building and construction solutions. It offers wood construction products, which include connectors, truss plates, fastening systems, and lateral systems primarily used to strengthen, support, and connect wood applications in residential and commercial construction, as well as do-it-yourself (DIY) projects, concrete construction products such as anchor, repair, and protection, and strengthening products for concrete, brick, and masonry applications in industrial, infrastructure, residential commercial, and DIY projects.

Further Reading

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Institutional Ownership by Quarter for Simpson Manufacturing (NYSE:SSD)

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