Locust Wood Capital Advisers LLC has made a significant investment in Simpson Manufacturing Company, Inc. (NYSE:SSD), purchasing a stake valued at approximately $745,000. This acquisition, which involved 4,800 shares, was reported in the firm’s latest Form 13F filing with the Securities and Exchange Commission. The investment comes during a period of interest from several institutional investors in the construction company.
In addition to Locust Wood, other firms have adjusted their holdings in Simpson Manufacturing. Ameritas Advisory Services LLC acquired a new position worth about $31,000, while Steph & Co. purchased shares valued at around $53,000. Putney Financial Group LLC notably increased its stake by 238.4% during the same quarter, now holding 379 shares valued at $59,000. Sprucegrove Investment Management Ltd. also entered the market with a new investment of approximately $62,000. Overall, institutional investors and hedge funds own an impressive 93.68% of Simpson Manufacturing’s stock.
Stock Performance and Financial Metrics
On Wednesday, the stock opened at $167.60. With a market capitalization of $6.95 billion, Simpson Manufacturing has a price-to-earnings ratio of 20.41 and a beta of 1.27. The company has experienced fluctuations over the past year, with a 52-week low of $137.35 and a 52-week high reaching $197.82. Current moving averages stand at $169.88 over the last 50 days and $171.14 over the past 200 days. Financially, Simpson maintains a solid debt-to-equity ratio of 0.17, with a quick ratio of 1.80 and a current ratio of 3.35.
As part of its financial strategy, Simpson Manufacturing recently announced a quarterly dividend of $0.29, which is scheduled to be paid on January 22, 2024. Shareholders on record as of January 2, 2024 will be eligible for this payment, marking an annualized dividend of $1.16 and a dividend yield of 0.7%. The company’s dividend payout ratio currently sits at 14.13%.
Analyst Ratings and Future Outlook
Market analysts have recently evaluated Simpson Manufacturing’s stock performance. Weiss Ratings reiterated a “hold (c+)” rating on SSD shares, while Robert W. Baird increased their price target from $190.00 to $212.00, issuing an “outperform” rating. Meanwhile, DA Davidson maintained a “neutral” rating with a target price of $190.00. Currently, one analyst rates the stock as a Buy, while two analysts have issued Hold ratings, leading to an average consensus rating of “Hold” and a target price of $201.00 according to MarketBeat.com.
Simpson Manufacturing Company, Inc. specializes in designing, engineering, manufacturing, and selling structural solutions for various construction materials, including wood, concrete, and steel. Its product offerings range from wood construction products, such as connectors and fastening systems, to concrete construction materials like adhesives and mechanical anchors.
For those interested in tracking hedge fund activities related to Simpson Manufacturing, detailed information can be found through various financial services that provide insights on institutional holdings and recent transactions.
