NFJ Investment Group LLC Raises Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

NFJ Investment Group LLC raised its holdings in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) by 16.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,075 shares of the construction company’s stock after purchasing an additional 4,035 shares during the period. NFJ Investment Group LLC’s holdings in Simpson Manufacturing were worth $3,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. IndexIQ Advisors LLC boosted its stake in Simpson Manufacturing by 8.6% during the 2nd quarter. IndexIQ Advisors LLC now owns 1,136 shares of the construction company’s stock valued at $125,000 after purchasing an additional 90 shares during the last quarter. Wrapmanager Inc. boosted its stake in shares of Simpson Manufacturing by 4.6% in the 2nd quarter. Wrapmanager Inc. now owns 2,140 shares of the construction company’s stock worth $236,000 after buying an additional 94 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Simpson Manufacturing by 3.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,272 shares of the construction company’s stock worth $338,000 after buying an additional 122 shares during the last quarter. BancorpSouth Bank boosted its stake in shares of Simpson Manufacturing by 2.3% in the 1st quarter. BancorpSouth Bank now owns 6,787 shares of the construction company’s stock worth $704,000 after buying an additional 150 shares during the last quarter. Finally, Northwest Bancshares Inc. boosted its stake in shares of Simpson Manufacturing by 5.6% in the 2nd quarter. Northwest Bancshares Inc. now owns 2,992 shares of the construction company’s stock worth $330,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.

Separately, Zacks Investment Research upgraded Simpson Manufacturing from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Thursday, July 29th.

Shares of Simpson Manufacturing stock opened at $108.82 on Friday. Simpson Manufacturing Co., Inc. has a one year low of $86.20 and a one year high of $119.77. The stock’s fifty day moving average is $110.90 and its 200 day moving average is $109.88. The stock has a market cap of $4.73 billion, a P/E ratio of 21.59 and a beta of 1.25.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Sunday, July 25th. The construction company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Simpson Manufacturing had a return on equity of 21.72% and a net margin of 15.51%. The company had revenue of $410.28 million for the quarter. As a group, equities research analysts anticipate that Simpson Manufacturing Co., Inc. will post 5.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 28th. Investors of record on Thursday, October 7th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 6th. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. Simpson Manufacturing’s dividend payout ratio is currently 23.42%.

About Simpson Manufacturing

Simpson Manufacturing Co, Inc manufactures and markets 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; and concrete construction products such as anchor; and repair, protection, and strengthening products for concrete, brick and masonry applications in industrial, infrastructure, residential commercial, and DYI projects.

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

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