Teza Capital Management LLC Acquires Shares of 4,241 Griffon Co. (NYSE:GFF)

Teza Capital Management LLC purchased a new stake in Griffon Co. (NYSE:GFF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,241 shares of the conglomerate's stock, valued at approximately $302,000.

Other large investors have also modified their holdings of the company. Summit Investment Advisors Inc. raised its position in Griffon by 4.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,934 shares of the conglomerate's stock valued at $280,000 after purchasing an additional 154 shares in the last quarter. Optimist Retirement Group LLC lifted its stake in Griffon by 5.3% in the fourth quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate's stock worth $256,000 after acquiring an additional 181 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Griffon by 4.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,977 shares of the conglomerate's stock worth $355,000 after acquiring an additional 198 shares in the last quarter. Keeley Teton Advisors LLC increased its position in shares of Griffon by 5.8% in the 4th quarter. Keeley Teton Advisors LLC now owns 5,500 shares of the conglomerate's stock valued at $392,000 after purchasing an additional 300 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Griffon by 5.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 5,701 shares of the conglomerate's stock valued at $406,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company's stock.

Griffon Stock Performance

NYSE:GFF traded down $0.50 during mid-day trading on Monday, reaching $67.13. 314,447 shares of the stock were exchanged, compared to its average volume of 441,589. The stock has a market capitalization of $3.16 billion, a P/E ratio of 13.70 and a beta of 1.17. Griffon Co. has a 1 year low of $55.01 and a 1 year high of $86.73. The company has a 50 day simple moving average of $69.98 and a 200-day simple moving average of $73.51. The company has a quick ratio of 1.34, a current ratio of 2.51 and a debt-to-equity ratio of 6.44.

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

Griffon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th will be paid a $0.18 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.07%. Griffon's dividend payout ratio is presently 14.91%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stephens raised their price target on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Loop Capital raised Griffon to a "strong-buy" rating in a report on Friday, February 14th. Raymond James reissued a "strong-buy" rating and set a $100.00 price objective (up previously from $95.00) on shares of Griffon in a report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft initiated 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. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Strong Buy" and a consensus target price 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.