Gallacher Capital Management LLC Purchases Shares of 3,448 Griffon Corporation (NYSE:GFF)

Gallacher Capital Management LLC bought a new position in Griffon Corporation (NYSE:GFF - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,448 shares of the conglomerate's stock, valued at approximately $247,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Griffon by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate's stock worth $454,406,000 after buying an additional 177,771 shares during the period. Invesco Ltd. raised its stake in Griffon by 36.0% during the fourth quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate's stock valued at $63,582,000 after buying an additional 236,179 shares in the last quarter. Renaissance Technologies LLC raised its stake in Griffon by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 700,351 shares of the conglomerate's stock valued at $49,914,000 after buying an additional 93,100 shares in the last quarter. Millennium Management LLC raised its stake in Griffon by 31.0% during the fourth quarter. Millennium Management LLC now owns 674,520 shares of the conglomerate's stock valued at $48,073,000 after buying an additional 159,557 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Griffon by 95,382.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate's stock valued at $44,505,000 after buying an additional 623,803 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company's stock.

Griffon Stock Performance

GFF traded down $0.22 during trading hours on Thursday, hitting $81.22. The company's stock had a trading volume of 131,016 shares, compared to its average volume of 374,376. Griffon Corporation has a fifty-two week low of $55.01 and a fifty-two week high of $86.73. The company has a current ratio of 2.78, a quick ratio of 1.48 and a debt-to-equity ratio of 7.12. The firm has a market capitalization of $3.82 billion, a PE ratio of 16.81, a PEG ratio of 0.89 and a beta of 1.14. The company has a 50-day simple moving average of $72.40 and a 200 day simple moving average of $72.29.

Griffon (NYSE:GFF - Get Free Report) last issued its quarterly 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 firm had revenue of $611.75 million during 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 firm's quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the company posted $1.35 EPS. As a group, sell-side analysts expect that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Friday, May 30th. Griffon's payout ratio is currently 14.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GFF. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Raymond James Financial reiterated a "strong-buy" rating and set a $100.00 price target (up from $95.00) on shares of Griffon in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft began coverage on Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target on the stock. Finally, Robert W. Baird increased their price target on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday. Three investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Strong Buy" and an average price target of $98.20.

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.