Simpson Manufacturing Company, Inc. $SSD Stock Position Decreased by Riverbridge Partners LLC

Riverbridge Partners LLC cut its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 8.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 113,550 shares of the construction company’s stock after selling 10,829 shares during the quarter. Riverbridge Partners LLC’s holdings in Simpson Manufacturing were worth $19,403,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in Simpson Manufacturing during the 2nd quarter worth approximately $862,138,000. State Street Corp raised its holdings in Simpson Manufacturing by 2.9% during the 2nd quarter. State Street Corp now owns 1,308,394 shares of the construction company’s stock worth $273,910,000 after buying an additional 37,206 shares during the period. Quantinno Capital Management LP raised its holdings in Simpson Manufacturing by 0.5% during the 1st quarter. Quantinno Capital Management LP now owns 857,918 shares of the construction company’s stock worth $147,236,000 after buying an additional 4,168 shares during the period. First Trust Advisors LP lifted its stake in Simpson Manufacturing by 6.3% in the first quarter. First Trust Advisors LP now owns 582,201 shares of the construction company’s stock valued at $99,917,000 after buying an additional 34,598 shares in the last quarter. Finally, Maren Capital LLC lifted its stake in Simpson Manufacturing by 0.5% in the second quarter. Maren Capital LLC now owns 513,029 shares of the construction company’s stock valued at $107,403,000 after buying an additional 2,639 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SSD shares. DA Davidson reduced their price target on shares of Simpson Manufacturing from $212.00 to $203.00 and set a “neutral” rating for the company in a report on Tuesday, October 27th. UBS Group restated a “neutral” rating on shares of Simpson Manufacturing in a report on Tuesday, July 28th. Robert W. Baird raised their price objective on shares of Simpson Manufacturing from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Simpson Manufacturing in a research report on Thursday, October 22nd. Finally, Stifel Nicolaus reduced their target price on shares of Simpson Manufacturing from $218.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $207.00.

Insider Buying and Selling at Simpson Manufacturing

In other news, CEO Michael Olosky sold 3,502 shares of Simpson Manufacturing stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total value of $605,285.68. Following the sale, the chief executive officer directly owned 51,398 shares in the company, valued at $8,883,630.32. This trade represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Simpson Manufacturing Stock Down 1.1%

NYSE:SSD opened at $201.83 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.20 and a current ratio of 3.37. The company has a market cap of $8.18 billion, a PE ratio of 21.82 and a beta of 1.35. Simpson Manufacturing Company, Inc. has a 52-week low of $156.32 and a 52-week high of $213.49. The stock has a 50-day simple moving average of $180.27 and a 200 day simple moving average of $185.98.

Simpson Manufacturing (NYSE:SSD) last announced its earnings results on Monday, October 26th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.24. The business had revenue of $638.13 million for the quarter, compared to analyst estimates of $624.39 million. Simpson Manufacturing had a return on equity of 18.23% and a net margin of 15.62%. Simpson Manufacturing’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 EPS. On average, sell-side analysts expect that Simpson Manufacturing Company, Inc. will post 9.34 EPS for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 28th. Stockholders of record on Thursday, January 7th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, January 7th. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 12.97%.

Simpson Manufacturing declared that its board has authorized a share repurchase plan on Monday, October 26th that allows the company to repurchase $1 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 13.2% of its shares through open market purchases. Share repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co., Inc. designs, manufactures and sells structural building products and construction solutions, primarily through its Simpson Strong-Tie brand. Its products are used in residential, commercial and industrial construction, as well as in repair and retrofit projects. The company’s offerings include connectors and fasteners, anchors and adhesives, engineered lateral-force-resisting systems, and prefabricated building components. It also provides construction-related software and services to support the design and installation of its products.