Congress Asset Management Co. Lowers Stock Holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Congress Asset Management Co. lessened its stake in Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 51.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,689 shares of the construction company's stock after selling 1,796 shares during the quarter. Congress Asset Management Co.'s holdings in Simpson Manufacturing were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SSD. Impact Capital Partners LLC increased its holdings in Simpson Manufacturing by 10.5% in the 1st quarter. Impact Capital Partners LLC now owns 7,433 shares of the construction company's stock valued at $1,168,000 after acquiring an additional 704 shares during the last quarter. Procyon Advisors LLC grew its position in shares of Simpson Manufacturing by 26.8% during the first quarter. Procyon Advisors LLC now owns 2,525 shares of the construction company's stock valued at $397,000 after purchasing an additional 534 shares in the last quarter. Vest Financial LLC bought a new stake in shares of Simpson Manufacturing in the first quarter worth about $2,239,000. Sendero Wealth Management LLC increased its holdings in shares of Simpson Manufacturing by 17.3% in the first quarter. Sendero Wealth Management LLC now owns 5,620 shares of the construction company's stock worth $883,000 after purchasing an additional 828 shares during the last quarter. Finally, Mirador Capital Partners LP lifted its position in shares of Simpson Manufacturing by 5.0% in the first quarter. Mirador Capital Partners LP now owns 8,072 shares of the construction company's stock worth $1,268,000 after buying an additional 385 shares in the last quarter. Institutional investors own 93.68% of the company's stock.

Analyst Upgrades and Downgrades

SSD has been the subject of several research analyst reports. DA Davidson cut their price target on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Robert W. Baird cut their target price on shares of Simpson Manufacturing from $196.00 to $192.00 and set an "outperform" rating for the company in a report on Tuesday, February 11th.

Simpson Manufacturing Price Performance

Shares of Simpson Manufacturing stock traded up $2.06 during trading hours on Tuesday, reaching $160.92. The company's stock had a trading volume of 259,965 shares, compared to its average volume of 259,281. The firm has a 50 day moving average price of $153.78 and a 200-day moving average price of $163.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.21 and a quick ratio of 1.59. The stock has a market cap of $6.73 billion, a P/E ratio of 21.17 and a beta of 1.30. Simpson Manufacturing Co., Inc. has a one year low of $137.35 and a one year high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. The company had revenue of $538.90 million for the quarter, compared to analysts' expectations of $531.81 million. Simpson Manufacturing had a return on equity of 18.00% and a net margin of 14.44%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 earnings per share. On average, analysts predict that Simpson Manufacturing Co., Inc. will post 8.29 EPS for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Simpson Manufacturing's previous quarterly dividend of $0.28. Simpson Manufacturing's dividend payout ratio is 15.10%.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells structural solutions for wood, concrete, and steel connections. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and pre-fabricated lateral systems for use in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber-reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products for use in concrete construction repair, and strengthening and protection products.