Mackenzie Financial Corp Purchases 15,426 Shares of Griffon Co. (NYSE:GFF)

Mackenzie Financial Corp increased its position in shares of Griffon Co. (NYSE:GFF - Free Report) by 154.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,403 shares of the conglomerate's stock after purchasing an additional 15,426 shares during the period. Mackenzie Financial Corp owned approximately 0.05% of Griffon worth $1,810,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. McIlrath & Eck LLC grew its stake in shares of Griffon by 116.1% during the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after buying an additional 202 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Griffon during the 4th quarter worth approximately $30,000. R Squared Ltd purchased a new position in Griffon during the 4th quarter valued at $37,000. Headlands Technologies LLC purchased a new stake in Griffon in the fourth quarter worth $64,000. Finally, Smartleaf Asset Management LLC increased 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 period. 73.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stephens boosted their target price 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. Loop Capital raised shares of Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 target price on the stock. Wall Street Zen raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $100.00 price target (up previously from $95.00) on shares of Griffon in a 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy" and a consensus target price of $98.20.

Griffon Stock Up 0.8%

NYSE GFF traded up $0.53 during trading on Wednesday, reaching $69.50. 248,172 shares of the company's stock traded hands, compared to its average volume of 440,130. 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. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 14.18 and a beta of 1.15. The company's 50 day simple moving average is $69.37 and its two-hundred day simple moving average is $73.25.

Griffon (NYSE:GFF - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 9.13% and a return on equity of 120.61%. Griffon's 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. As a group, sell-side analysts forecast that Griffon Co. will post 5.55 EPS for the current fiscal year.

Griffon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, May 30th. Griffon's payout ratio is 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.