Riverbridge Partners LLC Trims Position in Simpson Manufacturing Company, Inc. $SSD

Riverbridge Partners LLC trimmed its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 14.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,136 shares of the construction company’s stock after selling 37,841 shares during the period. Riverbridge Partners LLC owned 0.54% of Simpson Manufacturing worth $36,191,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Burgundy Asset Management Ltd. increased its stake in Simpson Manufacturing by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 693,775 shares of the construction company’s stock worth $107,750,000 after buying an additional 20,240 shares in the last quarter. Northern Trust Corp lifted its position in shares of Simpson Manufacturing by 1.4% in the third quarter. Northern Trust Corp now owns 555,211 shares of the construction company’s stock valued at $92,976,000 after acquiring an additional 7,552 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Simpson Manufacturing by 5.2% in the third quarter. First Trust Advisors LP now owns 541,149 shares of the construction company’s stock valued at $90,621,000 after acquiring an additional 26,743 shares in the last quarter. Norges Bank bought a new position in shares of Simpson Manufacturing in the second quarter worth about $77,528,000. Finally, Port Capital LLC boosted its stake in shares of Simpson Manufacturing by 1.0% in the third quarter. Port Capital LLC now owns 406,210 shares of the construction company’s stock worth $68,024,000 after acquiring an additional 3,825 shares during the period. Hedge funds and other institutional investors own 93.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SSD shares. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 18th. Stephens set a $200.00 price target on Simpson Manufacturing in a research note on Tuesday, February 10th. DA Davidson increased their price objective on shares of Simpson Manufacturing from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Wall Street Zen cut shares of Simpson Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Robert W. Baird set a $222.00 target price on shares of Simpson Manufacturing in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $207.33.

Simpson Manufacturing Trading Down 2.4%

Shares of SSD stock opened at $170.72 on Friday. The company has a current ratio of 3.54, a quick ratio of 1.99 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 20.69 and a beta of 1.35. Simpson Manufacturing Company, Inc. has a 12-month low of $137.35 and a 12-month high of $211.98. The stock’s 50-day moving average price is $187.61 and its 200-day moving average price is $177.42.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, February 9th. The construction company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The company had revenue of $539.35 million during the quarter, compared to analyst estimates of $530.70 million. Simpson Manufacturing had a return on equity of 17.63% and a net margin of 14.79%.The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 earnings per share. Equities research analysts predict that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, April 2nd. Simpson Manufacturing’s dividend payout ratio is currently 14.06%.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.