Counterpoint Mutual Funds LLC Takes $404,000 Position in Griffon Corporation $GFF

Key Points

• Counterpoint Mutual Funds LLC has purchased a new position in Griffon Corporation, acquiring 5,584 shares valued at approximately $404,000.
• In the second quarter, several large investors, including Livforsakringsbolaget Skandia Omsesidigt and Three Seasons Wealth LLC, also increased their stakes, indicating strong institutional interest in Griffon.
• Griffon recently announced a quarterly dividend of $0.18, contributing to an annualized dividend yield of 0.9% and a dividend payout ratio of 53.73%.

Counterpoint Mutual Funds LLC bought a new position in Griffon Corporation (NYSE:GFF - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,584 shares of the conglomerate's stock, valued at approximately $404,000.

Several other large investors have also modified their holdings of the stock. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Griffon in the second quarter valued at about $157,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Griffon by 28.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 63,009 shares of the conglomerate's stock valued at $4,557,000 after buying an additional 13,900 shares in the last quarter. Three Seasons Wealth LLC bought a new position in Griffon during the second quarter worth $434,000. Gallacher Capital Management LLC lifted its position in shares of Griffon by 36.9% in the 2nd quarter. Gallacher Capital Management LLC now owns 4,722 shares of the conglomerate's stock worth $342,000 after buying an additional 1,274 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in Griffon by 26.6% in the first quarter. Voya Investment Management LLC now owns 26,702 shares of the conglomerate's stock valued at $1,909,000 after acquiring an additional 5,617 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Griffon Price Performance

Shares of Griffon stock opened at $76.87 on Wednesday. Griffon Corporation has a 1-year low of $62.26 and a 1-year high of $86.73. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 57.36, a P/E/G ratio of 1.16 and a beta of 1.15. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 22.58. The firm's 50-day moving average price is $77.13 and its two-hundred day moving average price is $72.95.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. The company had revenue of $613.63 million for the quarter, compared to analyst estimates of $649.95 million. Griffon had a net margin of 2.78% and a return on equity of 144.21%. The company's revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. On average, equities analysts predict that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Griffon's dividend payout ratio is presently 53.73%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GFF shares. Robert W. Baird upped their target price on shares of Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Wall Street Zen cut shares of Griffon from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price 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.

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