D.A. Davidson & CO. Takes $603,000 Position in Griffon Corporation (NYSE:GFF)

D.A. Davidson & CO. acquired a new stake in Griffon Corporation (NYSE:GFF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,438 shares of the conglomerate's stock, valued at approximately $603,000.

Several other large investors have also made changes to their positions in the business. Summit Investment Advisors Inc. raised its position in 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 during the period. Pictet Asset Management Holding SA raised its position in Griffon by 4.1% during the fourth 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 during the period. McIlrath & Eck LLC raised its position in Griffon by 116.1% during the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock worth $27,000 after acquiring an additional 202 shares during the period. Keeley Teton Advisors LLC raised its position in Griffon by 5.8% during the fourth quarter. Keeley Teton Advisors LLC now owns 5,500 shares of the conglomerate's stock worth $392,000 after acquiring an additional 300 shares during the period. Finally, Axxcess Wealth Management LLC raised its position in Griffon by 5.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 5,701 shares of the conglomerate's stock worth $406,000 after acquiring an additional 319 shares during the period. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Price Performance

Griffon stock opened at $78.50 on Thursday. Griffon Corporation has a 52 week low of $55.01 and a 52 week high of $86.73. The company has a quick ratio of 1.48, a current ratio of 2.78 and a debt-to-equity ratio of 7.12. The firm's 50-day simple moving average is $71.03 and its 200 day simple moving average is $71.93. The firm has a market capitalization of $3.69 billion, a PE ratio of 16.25, a P/E/G ratio of 0.84 and a beta of 1.14.

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

Griffon Dividend Announcement

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

Analyst Ratings Changes

GFF has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price objective for the company. Wall Street Zen upgraded shares of Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $100.00 target price (up from $95.00) on shares of Griffon in a research report on Friday, May 9th. Three investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Griffon presently has a consensus rating of "Strong 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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