Unless you work as a structural engineer, a building inspector or a general contractor it is easy for this company to appear as overpriced. They are the industry leader in the connector market but that is only part of it. After the Hurricane Andrew and the Northridge earthquake demand for the products went through the roof. Then the economy took off and the building boom started. With building codes getting stricter and the implementation of the UBC (Universal Building Code) sales continue to increase. Some of the areas that they have moved into are chemical (epoxy) and mechanical (wedge anchors) anchoring systems. And finnally they have also introduced a product called the Strong Wall which, without boring you with all the technical details, is selling like hotcakes. Simpson Strong-Tie is poised to move into the international markets which, sadly at the cost of many innocent lives, is ready for structures that are built safer. All this adds up to a shattered glass ceiling and consistent growth albiet slow at times. I have always discribed this stock as a long term hold. Check out the product line at www.strongtie.com. It is dry reading but very informative.
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