Riverbridge Partners LLC Has $50.51 Million Stock Holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD)

Riverbridge Partners LLC cut its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 321,579 shares of the construction company's stock after selling 30,671 shares during the period. Riverbridge Partners LLC owned approximately 0.77% of Simpson Manufacturing worth $50,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Simpson Manufacturing during the fourth quarter worth about $28,000. Investment Management Corp VA ADV acquired a new position in Simpson Manufacturing during the 4th quarter worth approximately $28,000. Harbor Capital Advisors Inc. acquired a new position in Simpson Manufacturing during the 1st quarter worth approximately $45,000. Blue Trust Inc. boosted its position in Simpson Manufacturing by 1,070.0% during the 1st 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 last quarter. Finally, Jones Financial Companies Lllp boosted its position in Simpson Manufacturing by 1,542.3% during the 4th quarter. Jones Financial Companies Lllp now owns 427 shares of the construction company's stock worth $71,000 after acquiring an additional 401 shares during the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 report on Tuesday, March 11th.

Simpson Manufacturing Stock Up 0.6%

Shares of Simpson Manufacturing stock traded up $0.97 during trading hours on Friday, reaching $153.61. 704,865 shares of the company's stock were exchanged, compared to its average volume of 270,597. The company has a 50 day moving average of $155.44 and a two-hundred day moving average of $161.42. Simpson Manufacturing Company, Inc. has a fifty-two week low of $137.35 and a fifty-two week high of $197.82. The company has a current ratio of 3.17, a quick ratio of 1.54 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.43 billion, a P/E ratio of 20.00 and a beta of 1.30.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. Simpson Manufacturing had a return on equity of 17.80% and a net margin of 14.49%. The firm had revenue of $538.90 million during the quarter, compared to analysts' expectations of $531.81 million. During the same period in the prior year, the firm posted $1.77 earnings per share. The business's quarterly revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Simpson Manufacturing's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, July 3rd. Simpson Manufacturing's dividend payout ratio (DPR) is presently 14.58%.

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.