Allspring Global Investments Holdings LLC Has $4.42 Million Holdings in Griffon Corporation (NYSE:GFF)

Allspring Global Investments Holdings LLC lessened its position in Griffon Corporation (NYSE:GFF - Free Report) by 81.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 60,497 shares of the conglomerate's stock after selling 258,664 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.13% of Griffon worth $4,421,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GFF. Norges Bank purchased a new position in shares of Griffon during the fourth quarter valued at approximately $21,451,000. Kavar Capital Partners Group LLC boosted its position in shares of Griffon by 20.5% during the first quarter. Kavar Capital Partners Group LLC now owns 20,829 shares of the conglomerate's stock valued at $1,489,000 after buying an additional 3,545 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Griffon by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,200 shares of the conglomerate's stock valued at $38,358,000 after buying an additional 18,274 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Griffon by 7.7% during the fourth quarter. Wells Fargo & Company MN now owns 59,704 shares of the conglomerate's stock valued at $4,255,000 after buying an additional 4,251 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Griffon in the first quarter worth $1,443,000. Institutional investors and hedge funds own 73.22% of the company's stock.

Wall Street Analyst Weigh In

GFF has been the topic of several research analyst reports. Wall Street Zen raised Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Griffon in a research report on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price objective on the stock. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $100.00 price objective (up previously from $95.00) on shares of Griffon in a research report on Friday, May 9th. Three research 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 stock currently has an average rating of "Strong Buy" and an average target price of $98.20.

Griffon Stock Performance

Shares of GFF opened at $77.87 on Monday. The firm has a market cap of $3.66 billion, a PE ratio of 16.12, a PEG ratio of 0.85 and a beta of 1.14. The stock's fifty day moving average price is $70.47 and its two-hundred day moving average price is $71.83. The company has a debt-to-equity ratio of 7.12, a current ratio of 2.78 and a quick ratio of 1.48. Griffon Corporation has a 1 year low of $55.01 and a 1 year high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.10. The firm had revenue of $611.75 million for the quarter, compared to analyst estimates of $618.23 million. Griffon had a return on equity of 114.46% and a net margin of 9.06%. The business's revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 earnings per share. On average, equities research analysts forecast that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were paid a $0.18 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 0.92%. Griffon's payout ratio is presently 14.91%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.