Do Hedge Funds Love Simpson Manufacturing Co, Inc. (SSD)?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually dumped their positions entirely. Intriguingly, Paul Marshall and Ian Wace’s Marshall Wace LLP dumped the largest stake of all the investors watched by Insider Monkey, valued at an estimated $1 million in stock, and Joel Greenblatt’s Gotham Asset Management was right behind this move, as the fund dumped about $0.5 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Simpson Manufacturing Co, Inc. (NYSE:SSD) but similarly valued. These stocks are Big Lots, Inc. (NYSE:BIG), AdvancePierre Foods Holdings Inc (NYSE:APFH), Tri Pointe Homes Inc (NYSE:TPH), and Steven Madden, Ltd. (NASDAQ:SHOO). All of these stocks’ market caps are closest to SSD’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $435 million. That figure was $189 million in SSD’s case. Big Lots, Inc. (NYSE:BIG) is the most popular stock in this table. On the other hand Steven Madden, Ltd. (NASDAQ:SHOO) is the least popular one with only four bullish hedge fund positions. Simpson Manufacturing Co, Inc. (NYSE:SSD) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BIG might be a better candidate to consider taking a long position in.

Disclosure: None