State of New Jersey Common Pension Fund D bought a new stake in Simpson Manufacturing Co, Inc. (NYSE:SSD) in the fourth quarter, HoldingsChannel reports. The fund bought 44,488 shares of the construction company’s stock, valued at approximately $3,569,000.
A number of other large investors have also bought and sold shares of SSD. Tower Research Capital LLC TRC grew its stake in Simpson Manufacturing by 238.1% in the third quarter. Tower Research Capital LLC TRC now owns 470 shares of the construction company’s stock valued at $33,000 after acquiring an additional 331 shares during the period. Penserra Capital Management LLC grew its stake in Simpson Manufacturing by 25.0% in the third quarter. Penserra Capital Management LLC now owns 770 shares of the construction company’s stock valued at $53,000 after acquiring an additional 154 shares during the period. Point72 Asset Management L.P. grew its stake in Simpson Manufacturing by 150.0% in the third quarter. Point72 Asset Management L.P. now owns 2,000 shares of the construction company’s stock valued at $139,000 after acquiring an additional 1,200 shares during the period. NEXT Financial Group Inc acquired a new position in shares of Simpson Manufacturing during the fourth quarter worth about $146,000. Finally, Huntington National Bank boosted its position in shares of Simpson Manufacturing by 100.3% during the fourth quarter. Huntington National Bank now owns 2,121 shares of the construction company’s stock worth $170,000 after buying an additional 1,062 shares during the period. 90.41% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Jennifer Chatman sold 1,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $86.61, for a total transaction of $86,610.00. Following the completion of the transaction, the director now directly owns 12,945 shares of the company’s stock, valued at $1,121,166.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.
Simpson Manufacturing (NYSE:SSD) last posted its quarterly earnings data on Monday, February 3rd. The construction company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $262.50 million during the quarter, compared to analysts’ expectations of $263.61 million. Simpson Manufacturing had a return on equity of 15.43% and a net margin of 11.79%. Simpson Manufacturing’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, research analysts forecast that Simpson Manufacturing Co, Inc. will post 3.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, April 1st. This represents a $0.92 annualized dividend and a dividend yield of 1.08%. Simpson Manufacturing’s dividend payout ratio is currently 30.87%.
SSD has been the subject of several recent research reports. Robert W. Baird reduced their price objective on Simpson Manufacturing from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Zacks Investment Research cut Simpson Manufacturing from a “hold” rating to a “sell” rating in a research report on Thursday, January 30th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $82.00 price objective on shares of Simpson Manufacturing in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $80.50.
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, shearwalls, and pre-fabricated lateral systems used in light-frame construction; and concrete construction products comprising adhesives, 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, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.
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