Algert Global LLC Raises Stock Holdings in Griffon Co. (NYSE:GFF)

Algert Global LLC increased its position in shares of Griffon Co. (NYSE:GFF - Free Report) by 45.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,635 shares of the conglomerate's stock after purchasing an additional 56,484 shares during the quarter. Algert Global LLC owned approximately 0.38% of Griffon worth $12,945,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Griffon by 25.1% during the third quarter. Barclays PLC now owns 161,438 shares of the conglomerate's stock worth $11,300,000 after acquiring an additional 32,427 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Griffon by 97.2% during the 3rd quarter. Tidal Investments LLC now owns 30,957 shares of the conglomerate's stock worth $2,167,000 after purchasing an additional 15,258 shares during the last quarter. Synovus Financial Corp grew its position in shares of Griffon by 9.9% in the third quarter. Synovus Financial Corp now owns 13,389 shares of the conglomerate's stock valued at $937,000 after purchasing an additional 1,211 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Griffon by 6.9% in the third quarter. Franklin Resources Inc. now owns 27,296 shares of the conglomerate's stock valued at $1,876,000 after purchasing an additional 1,767 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Griffon by 4.4% in the third quarter. Principal Financial Group Inc. now owns 224,679 shares of the conglomerate's stock valued at $15,728,000 after purchasing an additional 9,417 shares during the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Griffon Trading Down 1.5 %

Shares of Griffon stock traded down $1.05 on Friday, reaching $69.87. The company had a trading volume of 157,006 shares, compared to its average volume of 400,995. The firm's 50 day moving average price is $69.65 and its two-hundred day moving average price is $72.89. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. Griffon Co. has a 52-week low of $55.01 and a 52-week high of $86.73. The firm has a market cap of $3.36 billion, a PE ratio of 14.26 and a beta of 1.17.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.10. Griffon had a return on equity of 120.61% and a net margin of 9.13%. The company had revenue of $611.75 million for the quarter, compared to analysts' expectations of $618.23 million. During the same period in the prior year, the firm earned $1.35 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. Sell-side analysts predict that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, May 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.03%. Griffon's payout ratio is currently 14.69%.

Analyst Upgrades and Downgrades

GFF has been the subject of a number of recent research reports. Stephens raised their target price on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Raymond James restated a "strong-buy" rating and set a $100.00 price objective (up from $95.00) on shares of Griffon in a research report on Friday. Loop Capital raised shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. StockNews.com cut shares of Griffon from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $98.20.

Griffon Company Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.