Deutsche Bank AG Raises Holdings in Griffon Co. (NYSE:GFF)

Deutsche Bank AG lifted its holdings in Griffon Co. (NYSE:GFF - Free Report) by 130.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,804 shares of the conglomerate's stock after acquiring an additional 31,064 shares during the period. Deutsche Bank AG owned 0.12% of Griffon worth $3,906,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC bought a new position in shares of Griffon in the 4th quarter valued at about $30,000. Grove Bank & Trust bought a new stake in Griffon in the fourth quarter worth about $33,000. R Squared Ltd bought a new stake in Griffon in the fourth quarter worth about $37,000. Headlands Technologies LLC bought a new stake in Griffon in the fourth quarter worth about $64,000. Finally, Smartleaf Asset Management LLC lifted its stake in Griffon by 343.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock worth $78,000 after purchasing an additional 845 shares during the last quarter. Institutional investors own 73.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GFF shares. Loop Capital raised shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Wall Street Zen raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Raymond James reissued a "strong-buy" rating and issued a $100.00 price objective (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Stephens raised their price objective on shares of Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price objective for the company. Three research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Strong Buy" and an average price target of $98.20.

Griffon Trading Down 0.8%

Shares of NYSE:GFF traded down $0.53 during trading on Thursday, reaching $67.64. 314,833 shares of the company were exchanged, compared to its average volume of 441,482. The firm has a market capitalization of $3.18 billion, a PE ratio of 13.80 and a beta of 1.17. The business's fifty day simple moving average is $70.04 and its 200-day simple moving average is $73.41. Griffon Co. has a 12-month low of $55.01 and a 12-month high of $86.73. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.34.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.10. The business had revenue of $611.75 million for the quarter, compared to analyst estimates of $618.23 million. Griffon had a net margin of 9.13% and a return on equity of 120.61%. The company's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company posted $1.35 earnings per share. On average, research analysts anticipate that Griffon Co. 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 Wednesday, June 18th. Stockholders of record on Friday, May 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, May 30th. Griffon's dividend payout ratio (DPR) is presently 14.91%.

About Griffon

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.