Voss Capital LP Acquires 127,051 Shares of Griffon Corporation $GFF

Key Points

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Voss Capital LP increased its holdings in Griffon Corporation (NYSE:GFF - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,332,051 shares of the conglomerate's stock after purchasing an additional 127,051 shares during the quarter. Griffon makes up 7.3% of Voss Capital LP's investment portfolio, making the stock its 2nd biggest holding. Voss Capital LP owned approximately 2.77% of Griffon worth $95,242,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Griffon by 241.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,876 shares of the conglomerate's stock worth $3,566,000 after purchasing an additional 35,256 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Griffon by 11.5% in the first quarter. Hsbc Holdings PLC now owns 11,669 shares of the conglomerate's stock worth $826,000 after purchasing an additional 1,207 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Griffon by 52.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 951,120 shares of the conglomerate's stock worth $68,005,000 after purchasing an additional 326,663 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Griffon by 11,460.0% in the first quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock worth $41,000 after purchasing an additional 573 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of Griffon by 4.5% in the first quarter. Algert Global LLC now owns 189,735 shares of the conglomerate's stock worth $13,566,000 after purchasing an additional 8,100 shares during the last quarter. Institutional investors own 73.22% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Raymond James Financial reissued 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. Wall Street Zen cut shares of Griffon from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Robert W. Baird upped their price target on shares of Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $98.20.

Griffon Trading Up 4.6%

GFF traded up $3.36 during trading on Friday, reaching $75.63. 395,694 shares of the stock traded hands, compared to its average volume of 537,606. 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 stock has a market capitalization of $3.52 billion, a PE ratio of 56.44, a P/E/G ratio of 1.10 and a beta of 1.09. The stock's 50-day moving average is $75.47 and its 200 day moving average is $72.52. Griffon Corporation has a 12 month low of $60.97 and a 12 month high of $86.73.

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

Griffon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Griffon's dividend payout ratio is currently 53.73%.

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.