Aristeia Capital L.L.C. Makes New $443,000 Investment in Griffon Co. (NYSE:GFF)

Aristeia Capital L.L.C. acquired a new stake in Griffon Co. (NYSE:GFF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,219 shares of the conglomerate's stock, valued at approximately $443,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. New Age Alpha Advisors LLC purchased a new position in Griffon in the 4th quarter valued at about $30,000. Grove Bank & Trust purchased a new position in Griffon during the 4th quarter valued at about $33,000. R Squared Ltd acquired a new stake in shares of Griffon in the fourth quarter valued at $37,000. Headlands Technologies LLC purchased a new stake in Griffon during the 4th quarter worth about $64,000. Finally, Smartleaf Asset Management LLC lifted its stake in Griffon by 343.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock worth $78,000 after acquiring an additional 845 shares during the last quarter. 73.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GFF shares. Stephens upped their price target on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Loop Capital upgraded shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Raymond James restated a "strong-buy" rating and issued a $95.00 price objective (up previously from $92.00) on shares of Griffon in a research note on Thursday, February 6th. StockNews.com cut Griffon from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Griffon in a research note on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target on the stock. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $97.20.

Griffon Price Performance

GFF traded up $2.13 on Thursday, hitting $70.03. 286,618 shares of the company were exchanged, compared to its average volume of 443,822. The business's fifty day moving average is $69.62 and its 200 day moving average is $72.85. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. The firm has a market capitalization of $3.37 billion, a P/E ratio of 14.29 and a beta of 1.17. Griffon Co. has a fifty-two week low of $55.01 and a fifty-two week high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.10. Griffon had a return on equity of 120.61% and a net margin of 9.13%. During the same quarter in the prior year, the company posted $1.35 earnings per share. Griffon's revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Griffon Co. will post 5.55 EPS for the current year.

Griffon Announces Dividend

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

Griffon 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.