Fiduciary Management Inc. WI Reduces Stock Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Fiduciary Management Inc. WI reduced its stake in Simpson Manufacturing by 0.7%, ending the first quarter with approximately 2.19% ownership worth $143,909,000.
• Simpson Manufacturing has seen actions from multiple hedge funds, with JPMorgan Chase & Co. increasing its position by 1.8%, now holding shares valued at $274,556,000.
• The company reported Q2 earnings of $2.47 EPS, exceeding estimates, with a quarterly revenue increase of 5.7% year-over-year, prompting a positive target price adjustment by analysts.

Fiduciary Management Inc. WI decreased its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 916,152 shares of the construction company's stock after selling 6,119 shares during the period. Fiduciary Management Inc. WI owned 2.19% of Simpson Manufacturing worth $143,909,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Simpson Manufacturing in the fourth quarter worth about $28,000. Investment Management Corp VA ADV bought a new position in shares of Simpson Manufacturing in the fourth quarter worth about $28,000. Harbor Capital Advisors Inc. bought a new position in shares of Simpson Manufacturing in the first quarter worth about $45,000. CWM LLC boosted its stake in shares of Simpson Manufacturing by 39.1% in the first quarter. CWM LLC now owns 331 shares of the construction company's stock worth $52,000 after acquiring an additional 93 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Simpson Manufacturing by 1,070.0% in the first quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock worth $55,000 after acquiring an additional 321 shares during the period. Institutional investors own 93.68% of the company's stock.

Simpson Manufacturing Stock Down 1.1%

Shares of NYSE:SSD traded down $2.2430 on Monday, reaching $194.8370. The company had a trading volume of 193,313 shares, compared to its average volume of 279,145. The company has a current ratio of 3.37, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $8.11 billion, a PE ratio of 24.85 and a beta of 1.26. Simpson Manufacturing Company, Inc. has a 52-week low of $137.35 and a 52-week high of $197.82. The firm's 50 day simple moving average is $169.94 and its 200-day simple moving average is $162.11.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The construction company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.08. The firm had revenue of $631.06 million during the quarter, compared to analysts' expectations of $601.80 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.53%.The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. As a group, analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 earnings per share for the current fiscal year.

Simpson Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's payout ratio is currently 14.80%.

Insider Buying and Selling at Simpson Manufacturing

In related news, EVP Jeremy Gilstrap sold 2,500 shares of Simpson Manufacturing stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $178.27, for a total value of $445,675.00. Following the completion of the transaction, the executive vice president owned 7,794 shares in the company, valued at $1,389,436.38. The trade was a 24.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, DA Davidson increased their price target on Simpson Manufacturing from $180.00 to $185.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Simpson Manufacturing currently has an average rating of "Moderate Buy" and an average target price of $188.50.

About Simpson Manufacturing

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.