Riverbridge Partners LLC Decreases Stake in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Riverbridge Partners LLC cut its stake in Simpson Manufacturing by 19.3% in the first quarter, selling 43,159 shares and ending with 180,977 shares valued at about $31.1 million.
• Analysts remain broadly positive on SSD, with three Buy ratings and two Hold ratings; the consensus view is a “Moderate Buy” and the average price target is $214.75.
• Simpson Manufacturing posted strong quarterly results, reporting EPS of $2.13 versus the $1.84 estimate and revenue of $587.96 million, while also raising its quarterly dividend to $0.30 per share.

Riverbridge Partners LLC trimmed its holdings in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 180,977 shares of the construction company's stock after selling 43,159 shares during the quarter. Riverbridge Partners LLC owned 0.44% of Simpson Manufacturing worth $31,059,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Simpson Manufacturing by 51.3% in the first quarter. AQR Capital Management LLC now owns 5,093 shares of the construction company's stock valued at $798,000 after purchasing an additional 1,726 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Simpson Manufacturing by 11.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,720 shares of the construction company's stock valued at $427,000 after purchasing an additional 286 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Simpson Manufacturing during the 1st quarter worth approximately $531,000. Goldman Sachs Group Inc. increased its holdings in Simpson Manufacturing by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 212,164 shares of the construction company's stock worth $33,327,000 after purchasing an additional 64,114 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Simpson Manufacturing by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,099 shares of the construction company's stock valued at $19,022,000 after purchasing an additional 12,865 shares in the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SSD has been the subject of a number of recent analyst reports. DA Davidson raised their price target on shares of Simpson Manufacturing from $200.00 to $212.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Stifel Nicolaus upped their price target on shares of Simpson Manufacturing from $205.00 to $217.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Robert W. Baird increased their price objective on shares of Simpson Manufacturing from $216.00 to $220.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Simpson Manufacturing from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, May 12th. Finally, Stephens boosted their target price on shares of Simpson Manufacturing from $200.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $214.75.

Simpson Manufacturing Price Performance

Shares of SSD opened at $198.48 on Wednesday. Simpson Manufacturing Company, Inc. has a 52 week low of $154.22 and a 52 week high of $211.98. The company has a current ratio of 3.40, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 23.27 and a beta of 1.32. The stock has a 50 day moving average of $187.26 and a 200-day moving average of $182.24.

Simpson Manufacturing (NYSE:SSD - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.29. The business had revenue of $587.96 million for the quarter, compared to analyst estimates of $550.08 million. Simpson Manufacturing had a return on equity of 17.72% and a net margin of 14.92%.The business's revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 EPS. As a group, analysts forecast that Simpson Manufacturing Company, Inc. will post 9.17 EPS for the current year.

Simpson Manufacturing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Simpson Manufacturing's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, July 2nd. Simpson Manufacturing's dividend payout ratio is currently 13.60%.

Simpson Manufacturing Company Profile

Simpson Manufacturing Co, Inc, through its Simpson Strong-Tie® brand, is a leading global supplier of structural building products. The company specializes in the design, testing, manufacture and supply of connectors, anchors, fasteners and lateral systems that enhance the safety and performance of wood, concrete and masonry structures. Its product portfolio also includes repair and strengthening systems, concrete reinforcement and high-performance adhesives used in residential, commercial and industrial construction projects.

Founded in 1956 by Barclay Simpson in Oakland, California, Simpson Manufacturing has grown from a single product business into a diversified manufacturer with worldwide operations.

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