Brevan Howard Capital Management LP Acquires 3,781 Shares of Griffon Co. (NYSE:GFF)

Brevan Howard Capital Management LP raised its stake in shares of Griffon Co. (NYSE:GFF - Free Report) by 62.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,799 shares of the conglomerate's stock after buying an additional 3,781 shares during the period. Brevan Howard Capital Management LP's holdings in Griffon were worth $698,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI boosted its position in shares of Griffon by 35.1% during the 4th quarter. Arcadia Investment Management Corp MI now owns 23,551 shares of the conglomerate's stock valued at $1,678,000 after purchasing an additional 6,125 shares in the last quarter. Norges Bank bought a new position in shares of Griffon during the 4th quarter valued at about $21,451,000. Charles Schwab Investment Management Inc. boosted its position in shares of Griffon by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,200 shares of the conglomerate's stock valued at $38,358,000 after purchasing an additional 18,274 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Griffon by 4.4% during the 3rd 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 in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Griffon by 57.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 27,247 shares of the conglomerate's stock valued at $1,942,000 after purchasing an additional 9,896 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.

Griffon Stock Down 0.5%

Shares of GFF stock traded down $0.35 during trading on Wednesday, hitting $73.17. 126,620 shares of the company were exchanged, compared to its average volume of 440,602. 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 $3.52 billion, a price-to-earnings ratio of 14.93 and a beta of 1.17. The business's 50-day simple moving average is $69.80 and its 200 day simple moving average is $73.11. Griffon Co. has a twelve month low of $55.01 and a twelve month high of $86.73.

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

Griffon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, May 30th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, May 30th. Griffon's dividend payout ratio is currently 14.91%.

Wall Street Analysts Forecast Growth

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

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.