Deutsche Bank AG Purchases 31,064 Shares of Griffon Co. (NYSE:GFF)

Deutsche Bank AG increased its holdings in Griffon Co. (NYSE:GFF - Free Report) by 130.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,804 shares of the conglomerate's stock after purchasing an additional 31,064 shares during the period. Deutsche Bank AG owned approximately 0.12% of Griffon worth $3,906,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. raised its position in Griffon by 4.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,934 shares of the conglomerate's stock worth $280,000 after purchasing an additional 154 shares in the last quarter. Optimist Retirement Group LLC increased its holdings in shares of Griffon by 5.3% during the fourth quarter. Optimist Retirement Group LLC now owns 3,592 shares of the conglomerate's stock worth $256,000 after buying an additional 181 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of 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 buying an additional 198 shares in the last quarter. Keeley Teton Advisors LLC increased its holdings in shares of 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 buying an additional 300 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of 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 buying an additional 319 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Griffon in a report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price objective for the company. Raymond James reaffirmed 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. Stephens increased their price target on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, Loop Capital raised shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Strong Buy" and a consensus target price of $98.20.

Griffon Price Performance

Shares of GFF traded down $0.50 during mid-day trading on Friday, hitting $67.13. 314,447 shares of the company traded hands, compared to its average volume of 441,589. Griffon Co. has a one year low of $55.01 and a one year high of $86.73. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44. The business has a 50-day moving average of $69.98 and a 200 day moving average of $73.51. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 13.70 and a beta of 1.17.

Griffon (NYSE:GFF - Get Free Report) last announced its quarterly earnings data 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. Griffon had a net margin of 9.13% and a return on equity of 120.61%. The firm had revenue of $611.75 million for the quarter, compared to analysts' expectations of $618.23 million. During the same period last year, the firm earned $1.35 earnings per share. The business's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities analysts expect that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Griffon Announces Dividend

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 of this dividend is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.07%. 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.