Fiduciary Management Inc. WI Reduces Position in Simpson Manufacturing Company, Inc. $SSD

Fiduciary Management Inc. WI reduced its stake in Simpson Manufacturing Company, Inc. (NYSE:SSD) by 55.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 455,195 shares of the construction company’s stock after selling 562,371 shares during the quarter. Fiduciary Management Inc. WI’s holdings in Simpson Manufacturing were worth $73,500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Simpson Manufacturing by 135.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 160 shares of the construction company’s stock valued at $25,000 after purchasing an additional 92 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Simpson Manufacturing by 322.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 169 shares of the construction company’s stock valued at $28,000 after buying an additional 129 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Simpson Manufacturing in the 4th quarter valued at approximately $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Simpson Manufacturing in the 3rd quarter valued at approximately $34,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Simpson Manufacturing by 98.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 291 shares of the construction company’s stock valued at $49,000 after buying an additional 144 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SSD. Weiss Ratings raised Simpson Manufacturing from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Robert W. Baird raised their price target on Simpson Manufacturing from $216.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. DA Davidson raised their price target on Simpson Manufacturing from $200.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Wall Street Zen cut Simpson Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Stephens lifted their price objective on Simpson Manufacturing from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.75.

Simpson Manufacturing Stock Performance

Simpson Manufacturing stock opened at $185.24 on Friday. The firm has a market capitalization of $7.62 billion, a P/E ratio of 21.72 and a beta of 1.32. 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 stock has a fifty day moving average price of $181.55 and a 200 day moving average price of $179.62. Simpson Manufacturing Company, Inc. has a 52 week low of $151.38 and a 52 week high of $211.98.

Simpson Manufacturing (NYSE:SSD) last announced its quarterly earnings results on Monday, April 27th. The construction company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.84 by $0.29. The company had revenue of $587.96 million during 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 firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 earnings per share. Equities research analysts anticipate that Simpson Manufacturing Company, Inc. will post 9.17 earnings per share for the current year.

Simpson Manufacturing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.30 per share. This is a boost from Simpson Manufacturing’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, July 2nd. Simpson Manufacturing’s payout ratio is currently 13.60%.

About Simpson Manufacturing

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.