Riverbridge Partners LLC Lowers Position in Simpson Manufacturing Company, Inc. $SSD

Key Points

• Riverbridge Partners LLC reduced its holdings in Simpson Manufacturing Company by 12.4%, owning approximately 281,692 shares valued at $43,750,000 after selling 39,887 shares in Q2.
• Simpson Manufacturing announced a quarterly dividend of $0.29 per share, payable on October 23rd, representing an annualized yield of 0.7%.
• DA Davidson upgraded the price objective for Simpson Manufacturing from $180.00 to $185.00, while the average price target for the stock stands at $188.50.

Riverbridge Partners LLC lowered its holdings in Simpson Manufacturing Company, Inc. (NYSE:SSD - Free Report) by 12.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 281,692 shares of the construction company's stock after selling 39,887 shares during the period. Riverbridge Partners LLC owned approximately 0.67% of Simpson Manufacturing worth $43,750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. increased its position in shares of Simpson Manufacturing by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 97,163 shares of the construction company's stock valued at $15,262,000 after purchasing an additional 380 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Simpson Manufacturing by 163.7% during the 1st quarter. GAMMA Investing LLC now owns 1,171 shares of the construction company's stock valued at $184,000 after purchasing an additional 727 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Simpson Manufacturing by 708.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,590 shares of the construction company's stock valued at $2,135,000 after purchasing an additional 11,908 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Simpson Manufacturing by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 4,944 shares of the construction company's stock valued at $776,000 after purchasing an additional 135 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Simpson Manufacturing by 1,070.0% during the 1st quarter. Blue Trust Inc. now owns 351 shares of the construction company's stock valued at $55,000 after purchasing an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 93.68% of the company's stock.

Insider Buying and Selling

In related news, EVP Jeremy Gilstrap sold 2,500 shares of the firm's stock in a transaction on 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 sale, the executive vice president owned 7,794 shares of the company's stock, valued at $1,389,436.38. This trade represents a 24.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Andersen sold 1,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $196.13, for a total value of $196,130.00. Following the completion of the sale, the executive vice president directly owned 7,810 shares of the company's stock, valued at $1,531,775.30. The trade was a 11.35% decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Simpson Manufacturing Price Performance

SSD opened at $176.67 on Thursday. The stock's 50 day simple moving average is $183.42 and its 200 day simple moving average is $165.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.37 and a quick ratio of 1.80. Simpson Manufacturing Company, Inc. has a 1 year low of $137.35 and a 1 year high of $197.82. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of 22.53 and a beta of 1.30.

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

Simpson Manufacturing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 2nd. Simpson Manufacturing's dividend payout ratio is currently 14.80%.

Simpson Manufacturing 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.

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