Riverbridge Partners LLC Has $43.87 Million Stock Position in Simpson Manufacturing Company, Inc. $SSD

Riverbridge Partners LLC lowered its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 261,977 shares of the construction company’s stock after selling 19,715 shares during the quarter. Riverbridge Partners LLC’s holdings in Simpson Manufacturing were worth $43,871,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SSD. Trust Point Inc. raised its holdings in Simpson Manufacturing by 22.0% during the 3rd quarter. Trust Point Inc. now owns 2,624 shares of the construction company’s stock worth $439,000 after purchasing an additional 474 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Simpson Manufacturing during the 3rd quarter worth approximately $2,248,000. GAMMA Investing LLC grew its position in shares of Simpson Manufacturing by 10.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,084 shares of the construction company’s stock worth $182,000 after buying an additional 105 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Simpson Manufacturing by 8.4% during the second quarter. Texas Permanent School Fund Corp now owns 33,364 shares of the construction company’s stock worth $5,182,000 after buying an additional 2,583 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Simpson Manufacturing by 14.2% in the second quarter. Osaic Holdings Inc. now owns 8,866 shares of the construction company’s stock valued at $1,378,000 after buying an additional 1,102 shares during the period. Institutional investors own 93.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SSD. DA Davidson reaffirmed a “neutral” rating and set a $190.00 target price on shares of Simpson Manufacturing in a report on Tuesday, October 28th. Robert W. Baird lifted their price objective on Simpson Manufacturing from $190.00 to $212.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Simpson Manufacturing in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Simpson Manufacturing currently has a consensus rating of “Hold” and a consensus target price of $201.00.

Simpson Manufacturing Price Performance

SSD opened at $166.93 on Monday. The stock has a market cap of $6.92 billion, a P/E ratio of 20.33 and a beta of 1.36. Simpson Manufacturing Company, Inc. has a 12 month low of $137.35 and a 12 month high of $197.82. The company has a quick ratio of 1.88, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $169.44 and a 200 day simple moving average of $172.19.

Simpson Manufacturing (NYSE:SSD) last posted its earnings results on Monday, October 27th. The construction company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.21. Simpson Manufacturing had a return on equity of 18.11% and a net margin of 14.90%.The firm had revenue of $623.51 million during the quarter, compared to analysts’ expectations of $607.79 million. During the same period in the previous year, the firm earned $2.21 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 22nd. Investors of record on Friday, January 2nd will be issued 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 Friday, January 2nd. Simpson Manufacturing’s dividend payout ratio (DPR) is presently 14.13%.

Insider Activity at Simpson Manufacturing

In related news, Director Philip E. Donaldson sold 2,375 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $168.16, for a total transaction of $399,380.00. Following the completion of the transaction, the director owned 6,086 shares in the company, valued at approximately $1,023,421.76. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Simpson Manufacturing 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.