5 Best Lumber Stocks To Invest In 2023

3. Simpson Manufacturing Co., Inc. (NYSE:SSD)

Number of Hedge Fund Investors In Q3 2023: 22

Simpson Manufacturing Co., Inc. (NYSE:SSD) makes and sells wood based products to the construction industry. The firm’s revenue grew by 4.8% annually in its third quarter, and the EPS added to three consecutive prior analyst beats. To boot, the shares are also rated Strong Buy on average with an average share price target of $170.25.

As of the end of this year’s third quarter, 22 out of the 910 hedge funds profiled by Insider Monkey had bought and owned Simpson Manufacturing Co., Inc. (NYSE:SSD)’s shares. The firm’s biggest hedge fund investor is John W. Rogers’ Ariel Investments due to its $63.5 million stake.

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