Griffon Co. (NYSE:GFF) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in shares of Griffon Co. (NYSE:GFF - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,990 shares of the conglomerate's stock after selling 5,198 shares during the period. Ameriprise Financial Inc. owned approximately 0.21% of Griffon worth $7,055,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GFF. Fuller & Thaler Asset Management Inc. increased its stake in Griffon by 95,382.7% during the 4th 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 during the period. Raymond James Financial Inc. bought a new position in shares of Griffon during the 4th quarter valued at about $43,325,000. Norges Bank bought a new position in shares of Griffon during the 4th quarter valued at about $21,451,000. Invesco Ltd. boosted its position in shares of Griffon by 36.0% during the 4th quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate's stock valued at $63,582,000 after purchasing an additional 236,179 shares in the last quarter. Finally, abrdn plc bought a new position in shares of Griffon during the 4th quarter valued at about $12,842,000. Institutional investors and hedge funds own 73.22% of the company's stock.

Griffon Stock Performance

Shares of GFF opened at $67.64 on Friday. Griffon Co. has a one year low of $55.01 and a one year high of $86.73. The company has a 50-day moving average of $70.04 and a two-hundred day moving average of $73.41. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 13.80 and a beta of 1.17. 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 announced its earnings results on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, topping the consensus estimate of $1.13 by $0.10. The company had revenue of $611.75 million during the quarter, compared to analysts' expectations of $618.23 million. Griffon had a net margin of 9.13% and a return on equity of 120.61%. The business's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the company posted $1.35 earnings per share. On average, equities research analysts expect that Griffon Co. will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

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 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, May 30th. Griffon's dividend payout ratio (DPR) is 14.91%.

Analysts Set New Price Targets

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

Griffon Company 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.

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