Congress Asset Management Co. Has $265,000 Stake in Simpson Manufacturing Co., Inc. (NYSE:SSD)

Congress Asset Management Co. trimmed its position in shares of Simpson Manufacturing Co., Inc. (NYSE:SSD - Free Report) by 51.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,689 shares of the construction company's stock after selling 1,796 shares during the period. Congress Asset Management Co.'s holdings in Simpson Manufacturing were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SSD. Quarry LP bought a new stake in Simpson Manufacturing during the fourth quarter valued at about $28,000. Investment Management Corp VA ADV bought a new stake in shares of Simpson Manufacturing in the fourth quarter valued at about $28,000. V Square Quantitative Management LLC lifted its stake in shares of Simpson Manufacturing by 53.4% in the fourth quarter. V Square Quantitative Management LLC now owns 273 shares of the construction company's stock valued at $45,000 after buying an additional 95 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Simpson Manufacturing by 1,542.3% in the fourth quarter. Jones Financial Companies Lllp now owns 427 shares of the construction company's stock valued at $71,000 after buying an additional 401 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Simpson Manufacturing by 64.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 437 shares of the construction company's stock valued at $72,000 after buying an additional 171 shares during the period. 93.68% of the stock is currently owned by institutional investors.

Simpson Manufacturing Stock Performance

Shares of NYSE SSD traded down $1.37 during mid-day trading on Friday, hitting $155.46. The company had a trading volume of 300,174 shares, compared to its average volume of 269,985. 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 business's 50-day simple moving average is $154.55 and its 200-day simple moving average is $163.07. Simpson Manufacturing Co., Inc. has a 12 month low of $137.35 and a 12 month high of $197.82. The firm has a market cap of $6.50 billion, a P/E ratio of 20.46 and a beta of 1.30.

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

Simpson Manufacturing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 3rd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from Simpson Manufacturing's previous quarterly dividend of $0.28. Simpson Manufacturing's dividend payout ratio is 15.10%.

Analysts Set New Price Targets

Separately, DA Davidson reduced their target price on shares of Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th.

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.