Gamco Investors INC. ET AL Decreases Stock Position in Griffon Corporation $GFF

Key Points

• Gamco Investors INC. ET AL has reduced its stake in Griffon Corporation by 1.3%, now owning approximately 1.11% of the company, valued at $38.30 million as of the most recent quarter.
• Griffon reported $1.50 earnings per share (EPS), matching analysts' expectations, but experienced a 5.3% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.18 per share, representing an annual yield of 0.9%, with the ex-dividend date set for August 29th.

Gamco Investors INC. ET AL cut its position in shares of Griffon Corporation (NYSE:GFF - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 535,609 shares of the conglomerate's stock after selling 7,300 shares during the period. Gamco Investors INC. ET AL owned approximately 1.11% of Griffon worth $38,296,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC increased its stake 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 last quarter. Signaturefd LLC increased its stake in Griffon by 72.9% during the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock worth $40,000 after acquiring an additional 234 shares during the last quarter. Brooklyn Investment Group increased its stake in Griffon by 11,460.0% during the first quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock worth $41,000 after acquiring an additional 573 shares during the last quarter. CWM LLC increased its stake in Griffon by 26.1% during the first quarter. CWM LLC now owns 2,000 shares of the conglomerate's stock worth $143,000 after acquiring an additional 414 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Griffon by 153.1% during the first quarter. GAMMA Investing LLC now owns 2,718 shares of the conglomerate's stock worth $194,000 after acquiring an additional 1,644 shares during the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GFF has been the subject of several recent analyst reports. Wall Street Zen cut Griffon from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Raymond James Financial reissued a "strong-buy" rating and set a $100.00 target price (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Finally, Robert W. Baird raised their target price on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $98.20.

Griffon Trading Down 2.1%

Shares of GFF traded down $1.64 during midday trading on Friday, hitting $76.07. 360,951 shares of the stock were exchanged, compared to its average volume of 556,129. Griffon Corporation has a 52-week low of $60.97 and a 52-week high of $86.73. The stock has a fifty day simple moving average of $76.38 and a 200 day simple moving average of $72.39. The firm has a market cap of $3.54 billion, a P/E ratio of 56.77, a P/E/G ratio of 1.16 and a beta of 1.09. The company has a debt-to-equity ratio of 22.58, a quick ratio of 1.38 and a current ratio of 2.70.

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

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be issued a $0.18 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Griffon's dividend payout ratio (DPR) is 53.73%.

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.