Riverbridge Partners LLC Sells 10,829 Shares of Simpson Manufacturing Company, Inc. $SSD

Riverbridge Partners LLC reduced its position in shares of Simpson Manufacturing Company, Inc. (NYSE:SSD) by 8.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,550 shares of the construction company’s stock after selling 10,829 shares during the quarter. Riverbridge Partners LLC owned about 0.28% of Simpson Manufacturing worth $19,403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its stake in shares of Simpson Manufacturing by 208.6% during the second quarter. Squarepoint Ops LLC now owns 17,333 shares of the construction company’s stock worth $3,629,000 after buying an additional 11,717 shares during the last quarter. Deutsche Bank AG acquired a new position in Simpson Manufacturing in the second quarter valued at approximately $1,495,000. Polar Asset Management Partners Inc. acquired a new position in Simpson Manufacturing in the second quarter valued at approximately $5,255,000. Legal & General Group Plc bought a new position in Simpson Manufacturing in the second quarter valued at approximately $11,402,000. Finally, Crossmark Global Holdings Inc. boosted its stake in Simpson Manufacturing by 174.0% in the third quarter. Crossmark Global Holdings Inc. now owns 19,811 shares of the construction company’s stock valued at $3,385,000 after acquiring an additional 12,581 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Simpson Manufacturing Stock Performance

Shares of NYSE:SSD opened at $201.83 on Wednesday. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 21.82 and a beta of 1.35. The firm’s 50 day simple moving average is $180.27 and its 200 day simple moving average is $185.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.37 and a quick ratio of 2.20. Simpson Manufacturing Company, Inc. has a fifty-two week low of $156.32 and a fifty-two week high of $213.49.

Simpson Manufacturing (NYSE:SSD) last released its quarterly earnings data on Monday, October 26th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.24. The business had revenue of $638.13 million for the quarter, compared to analyst estimates of $624.39 million. Simpson Manufacturing had a net margin of 15.62% and a return on equity of 18.23%. Simpson Manufacturing’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 EPS. As a group, sell-side analysts forecast that Simpson Manufacturing Company, Inc. will post 9.34 earnings per share for the current year.

Simpson Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 28th. Stockholders of record on Thursday, January 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, January 7th. Simpson Manufacturing’s dividend payout ratio (DPR) is currently 12.97%.

Simpson Manufacturing declared that its board has authorized a stock buyback program on Monday, October 26th that allows the company to buy back $1 billion in shares. This buyback authorization allows the construction company to buy up to 13.2% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stephens dropped their target price on shares of Simpson Manufacturing from $215.00 to $205.00 and set a “cautious” rating for the company in a research report on Tuesday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Simpson Manufacturing in a research note on Thursday, October 22nd. DA Davidson reduced their price target on Simpson Manufacturing from $212.00 to $203.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 27th. Stifel Nicolaus decreased their price objective on Simpson Manufacturing from $218.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Simpson Manufacturing in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $207.00.

Insider Buying and Selling at Simpson Manufacturing

In other news, CEO Michael Olosky sold 3,502 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $172.84, for a total value of $605,285.68. Following the completion of the transaction, the chief executive officer owned 51,398 shares of the company’s stock, valued at $8,883,630.32. The trade was a 6.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

About Simpson Manufacturing

Simpson Manufacturing Co., Inc. designs, manufactures and sells structural building products and construction solutions, primarily through its Simpson Strong-Tie brand. Its products are used in residential, commercial and industrial construction, as well as in repair and retrofit projects. The company’s offerings include connectors and fasteners, anchors and adhesives, engineered lateral-force-resisting systems, and prefabricated building components. It also provides construction-related software and services to support the design and installation of its products.