Griffon Corporation $GFF Holdings Raised by SG Americas Securities LLC

Key Points

• SG Americas Securities boosted its stake in Griffon by 396.8% in Q4 to 66,088 shares (≈$4.87M), and institutional investors now own 73.22% of the company.
• Griffon beat Q4 estimates with $1.45 EPS vs. $1.34 expected and revenue of $649.09M (vs. $618.35M), and analysts hold a consensus “Moderate Buy” with an average target of $107.67 (notable raises to $115 and $108).
• The company pays a quarterly dividend of $0.22 (annualized $0.88, yield 1.2%) but has a high payout ratio of 95.65%, and insiders sold shares in February (SVP sold 15,000 shares at ~$95.44), with insiders owning 10.2%.

SG Americas Securities LLC increased its stake in Griffon Corporation (NYSE:GFF - Free Report) by 396.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,088 shares of the conglomerate's stock after purchasing an additional 52,786 shares during the quarter. SG Americas Securities LLC owned approximately 0.14% of Griffon worth $4,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GFF. Nisa Investment Advisors LLC lifted its stake in Griffon by 15.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,040 shares of the conglomerate's stock valued at $79,000 after buying an additional 142 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Griffon by 33.0% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate's stock worth $41,000 after acquiring an additional 142 shares in the last quarter. Equitable Holdings Inc. raised its holdings in shares of Griffon by 4.0% during the third quarter. Equitable Holdings Inc. now owns 3,811 shares of the conglomerate's stock valued at $290,000 after acquiring an additional 148 shares during the period. McIlrath & Eck LLC lifted its position in shares of Griffon by 43.4% in the 3rd quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate's stock valued at $41,000 after acquiring an additional 163 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Griffon by 9.2% in the 4th quarter. GAMMA Investing LLC now owns 2,280 shares of the conglomerate's stock valued at $168,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.

Griffon Stock Up 0.8%

Griffon stock opened at $73.25 on Thursday. Griffon Corporation has a twelve month low of $63.92 and a twelve month high of $97.58. The company has a debt-to-equity ratio of 12.36, a quick ratio of 1.27 and a current ratio of 2.55. The firm has a market cap of $3.41 billion, a PE ratio of 79.62, a P/E/G ratio of 1.21 and a beta of 1.36. The firm's 50 day moving average price is $81.28 and its two-hundred day moving average price is $77.57.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.11. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The company had revenue of $649.09 million during the quarter, compared to analyst estimates of $618.35 million. During the same quarter last year, the business posted $1.39 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts predict that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Friday, February 27th were paid a $0.22 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Griffon's payout ratio is 95.65%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GFF shares. Stephens lifted their price objective on shares of Griffon from $92.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, February 9th. Robert W. Baird set a $108.00 target price on Griffon in a research report on Friday, February 6th. Zacks Research downgraded Griffon from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 17th. Weiss Ratings reissued a "hold (c)" rating on shares of Griffon in a research report on Friday, March 27th. Finally, CJS Securities raised Griffon to a "strong-buy" rating in a research note on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Griffon currently has a consensus rating of "Moderate Buy" and an average target price of $107.67.

Insider Transactions at Griffon

In other news, SVP Seth L. Kaplan sold 15,000 shares of Griffon stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $95.44, for a total transaction of $1,431,600.00. Following the completion of the sale, the senior vice president directly owned 119,747 shares in the company, valued at $11,428,653.68. The trade was a 11.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James W. Sight sold 3,070 shares of the business's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $96.15, for a total value of $295,180.50. Following the completion of the sale, the director directly owned 13,872 shares of the company's stock, valued at approximately $1,333,792.80. The trade was a 18.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 10.20% of the company's stock.

Griffon Company Profile

Griffon Corporation NYSE: GFF is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon's portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon's Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.

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