Aberdeen Group plc Has $18.54 Million Holdings in Griffon Corporation $GFF

Key Points

• Aberdeen Group plc increased its stake in Griffon Corporation by 43.4% during the 1st quarter, owning approximately 259,238 shares valued at $18.54 million.
• Griffon Corporation reported a quarterly EPS of $1.50, matching analysts' expectations, but faced a 5.3% decline in revenue year-over-year.
• The company declared a $0.18 quarterly dividend, representing an annual yield of 1.0%, with a payout ratio currently at 53.73%.

Aberdeen Group plc grew its position in Griffon Corporation (NYSE:GFF - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 259,238 shares of the conglomerate's stock after purchasing an additional 78,460 shares during the period. Aberdeen Group plc owned about 0.54% of Griffon worth $18,536,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GFF. Wells Fargo & Company MN raised its holdings in Griffon by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 59,704 shares of the conglomerate's stock worth $4,255,000 after purchasing an additional 4,251 shares during the period. Bank of Montreal Can raised its holdings in Griffon by 6.0% in the fourth quarter. Bank of Montreal Can now owns 5,720 shares of the conglomerate's stock worth $408,000 after purchasing an additional 322 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Griffon by 4.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,934 shares of the conglomerate's stock worth $280,000 after acquiring an additional 154 shares in the last quarter. Barclays PLC increased its position in shares of Griffon by 19.0% during the fourth quarter. Barclays PLC now owns 192,130 shares of the conglomerate's stock worth $13,693,000 after acquiring an additional 30,692 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Griffon by 5.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,620 shares of the conglomerate's stock worth $1,042,000 after acquiring an additional 811 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James Financial reissued a "strong-buy" rating and set a $100.00 price objective (up previously from $95.00) on shares of Griffon in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Griffon from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Robert W. Baird raised their target price on shares of Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $98.20.

Griffon Stock Performance

Shares of GFF traded up $3.36 during midday trading on Friday, reaching $75.63. The stock had a trading volume of 395,694 shares, compared to its average volume of 537,606. The firm has a 50 day simple moving average of $75.47 and a 200-day simple moving average of $72.52. Griffon Corporation has a one year low of $60.97 and a one year high of $86.73. The firm has a market cap of $3.52 billion, a PE ratio of 56.44, a P/E/G ratio of 1.10 and a beta of 1.09. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 22.58.

Griffon (NYSE:GFF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The conglomerate reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. Griffon had a net margin of 2.78% and a return on equity of 144.21%. The company had revenue of $613.63 million during the quarter, compared to the consensus estimate of $649.95 million. During the same quarter last year, the firm posted $1.24 EPS. The company's quarterly revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Griffon's payout ratio is presently 53.73%.

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.