BI Asset Management Fondsmaeglerselskab A S Has $3.57 Million Stock Holdings in Griffon Corporation $GFF

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly increased its stake in Griffon Corporation by 241.1%, owning approximately 0.10% of the company valued at $3.57 million as of its latest SEC filing.
• Griffon Corporation reported $1.50 EPS in its most recent earnings announcement, meeting analysts' expectations, but revenue decreased by 5.3% year-over-year.
• The company declared a quarterly dividend of $0.18 per share, resulting in an annual yield of 1.0%, with the ex-dividend date set for August 29th.

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Griffon Corporation (NYSE:GFF - Free Report) by 241.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,876 shares of the conglomerate's stock after acquiring an additional 35,256 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.10% of Griffon worth $3,566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GFF. Jefferies Financial Group Inc. bought a new position in Griffon during the first quarter valued at approximately $53,994,000. Fuller & Thaler Asset Management Inc. raised its position in Griffon by 95,382.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate's stock valued at $44,505,000 after acquiring an additional 623,803 shares in the last quarter. Nuveen LLC bought a new position in Griffon during the first quarter valued at approximately $22,108,000. GAMMA Investing LLC raised its position in Griffon by 17,994.7% during the first quarter. GAMMA Investing LLC now owns 194,337 shares of the conglomerate's stock valued at $138,950,000 after acquiring an additional 193,263 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Griffon by 31.0% in the fourth quarter. Millennium Management LLC now owns 674,520 shares of the conglomerate's stock valued at $48,073,000 after purchasing an additional 159,557 shares during the period. Institutional investors own 73.22% of the company's stock.

Griffon Stock Performance

GFF traded up $1.02 during trading on Tuesday, reaching $76.80. 52,874 shares of the company's stock were exchanged, compared to its average volume of 392,723. Griffon Corporation has a fifty-two week low of $60.97 and a fifty-two week high of $86.73. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58. The business has a 50 day moving average price of $75.62 and a 200 day moving average price of $72.38. The company has a market capitalization of $3.58 billion, a P/E ratio of 57.29, a PEG ratio of 1.15 and a beta of 1.09.

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

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 29th. Griffon's payout ratio is currently 53.73%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Griffon from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Raymond James Financial restated a "strong-buy" rating and issued a $100.00 price objective (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Finally, Robert W. Baird boosted their target price on shares of Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $98.20.

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.