Balyasny Asset Management L.P. Has $9.86 Million Stock Holdings in Griffon Co. (NYSE:GFF)

Balyasny Asset Management L.P. trimmed its position in Griffon Co. (NYSE:GFF - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,345 shares of the conglomerate's stock after selling 6,541 shares during the quarter. Balyasny Asset Management L.P. owned 0.29% of Griffon worth $9,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Griffon by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate's stock valued at $454,406,000 after buying an additional 177,771 shares in the last quarter. Invesco Ltd. grew its holdings in Griffon by 36.0% in the 4th quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate's stock valued at $63,582,000 after buying an additional 236,179 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Griffon by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 700,351 shares of the conglomerate's stock worth $49,914,000 after purchasing an additional 93,100 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Griffon by 95,382.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate's stock worth $44,505,000 after purchasing an additional 623,803 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Griffon during the 4th quarter worth $43,325,000. 73.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on GFF shares. StockNews.com raised Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Raymond James reissued a "strong-buy" rating and set a $100.00 target price (up from $95.00) on shares of Griffon in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price objective for the company. Loop Capital upgraded Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Finally, Stephens upped their price objective on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and a consensus target price of $98.20.

Griffon Trading Down 0.0%

Griffon stock traded down $0.01 during trading hours on Wednesday, hitting $73.51. The stock had a trading volume of 111,438 shares, compared to its average volume of 440,518. The company has a quick ratio of 1.34, a current ratio of 2.51 and a debt-to-equity ratio of 6.44. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 15.00 and a beta of 1.17. Griffon Co. has a one year low of $55.01 and a one year high of $86.73. The business's 50 day simple moving average is $69.80 and its 200-day simple moving average is $73.11.

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

Griffon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 0.98%. Griffon's dividend payout ratio is presently 14.91%.

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.