GAMMA Investing LLC Boosts Stock Position in Griffon Co. (NYSE:GFF)

GAMMA Investing LLC grew its holdings in shares of Griffon Co. (NYSE:GFF - Free Report) by 17,994.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,337 shares of the conglomerate's stock after purchasing an additional 193,263 shares during the quarter. GAMMA Investing LLC owned approximately 0.40% of Griffon worth $138,950,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. McIlrath & Eck LLC increased its holdings in Griffon by 116.1% in the 4th 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. New Age Alpha Advisors LLC purchased a new stake in Griffon in the 4th quarter worth about $30,000. R Squared Ltd purchased a new stake in Griffon in the 4th quarter worth about $37,000. Headlands Technologies LLC purchased a new stake in Griffon in the 4th quarter worth about $64,000. Finally, Smartleaf Asset Management LLC increased its holdings in Griffon by 343.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock worth $78,000 after acquiring an additional 845 shares during the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Stock Up 1.0%

Shares of NYSE GFF traded up $0.70 during trading on Thursday, reaching $70.13. The company had a trading volume of 348,954 shares, compared to its average volume of 440,008. Griffon Co. has a 12-month low of $55.01 and a 12-month high of $86.73. The stock has a market cap of $3.30 billion, a PE ratio of 14.31 and a beta of 1.15. The business's 50-day moving average is $69.34 and its 200 day moving average is $73.22. The company has a quick ratio of 1.34, a current ratio of 2.51 and a debt-to-equity ratio of 6.44.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, beating the consensus estimate of $1.13 by $0.10. Griffon had a return on equity of 120.61% and a net margin of 9.13%. The company 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 posted $1.35 earnings per share. Griffon's revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts forecast that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Griffon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, May 30th. Griffon's dividend payout ratio is 14.91%.

Analyst Ratings Changes

GFF has been the subject of several analyst reports. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Loop Capital raised Griffon to a "strong-buy" rating in a report on Friday, February 14th. Raymond James reaffirmed a "strong-buy" rating and issued a $100.00 price target (up from $95.00) on shares of Griffon in a research note on Friday, May 9th. Stephens boosted their target price on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Griffon in a research note on Tuesday, April 1st. They set a "buy" rating and a $91.00 target price on the stock. Three investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Griffon currently has an average rating of "Strong Buy" and a consensus target price of $98.20.

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.