Riverbridge Partners LLC Sells 30,671 Shares of Simpson Manufacturing Company, Inc. (NYSE:SSD)

Riverbridge Partners LLC lowered its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SSD. Rhumbline Advisers grew its stake in Simpson Manufacturing by 3.2% during the fourth quarter. Rhumbline Advisers now owns 114,984 shares of the construction company's stock worth $19,068,000 after purchasing an additional 3,589 shares during the period. CIBC Asset Management Inc boosted its holdings in Simpson Manufacturing by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,305 shares of the construction company's stock worth $216,000 after acquiring an additional 64 shares in the last quarter. Truist Financial Corp boosted its holdings in Simpson Manufacturing by 3.3% in the fourth quarter. Truist Financial Corp now owns 17,394 shares of the construction company's stock worth $2,885,000 after acquiring an additional 552 shares in the last quarter. Private Advisor Group LLC bought a new position in Simpson Manufacturing in the fourth quarter worth approximately $411,000. Finally, Hardy Reed LLC boosted its holdings in Simpson Manufacturing by 16.4% in the fourth quarter. Hardy Reed LLC now owns 3,824 shares of the construction company's stock worth $634,000 after acquiring an additional 539 shares in the last quarter. Institutional investors and hedge funds own 93.68% of the company's stock.

Simpson Manufacturing Stock Up 2.8%

NYSE:SSD traded up $4.29 on Monday, hitting $158.06. The stock had a trading volume of 213,285 shares, compared to its average volume of 270,367. The business's fifty day moving average is $155.61 and its 200 day moving average is $161.23. The company has a market cap of $6.61 billion, a PE ratio of 20.58 and a beta of 1.30. The company has a quick ratio of 1.54, a current ratio of 3.17 and a debt-to-equity ratio of 0.19. Simpson Manufacturing Company, Inc. has a 52 week low of $137.35 and a 52 week high of $197.82.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last announced 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 return on equity of 17.80% and a net margin of 14.49%. The business had revenue of $538.90 million for the quarter, compared to analyst estimates of $531.81 million. During the same quarter in the prior year, the company earned $1.77 earnings per share. The company's quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that Simpson Manufacturing Company, Inc. will post 8.29 EPS for the current fiscal year.

Simpson Manufacturing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.73%. 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 (DPR) is currently 15.10%.

Analyst Ratings Changes

Separately, DA Davidson cut their price target on Simpson Manufacturing from $195.00 to $185.00 and set a "neutral" rating on the stock in a report 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.