Voss Capital LP Increases Stock Holdings in Griffon Corporation $GFF

Key Points

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Voss Capital LP grew its stake in shares of Griffon Corporation (NYSE:GFF - Free Report) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,332,051 shares of the conglomerate's stock after buying an additional 127,051 shares during the period. Griffon accounts for 7.3% of Voss Capital LP's portfolio, making the stock its 2nd biggest holding. Voss Capital LP owned 2.77% of Griffon worth $95,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GFF. McIlrath & Eck LLC raised its stake in Griffon by 116.1% during the 4th quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after purchasing an additional 202 shares during the period. Signaturefd LLC raised its stake in Griffon by 72.9% during the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after purchasing an additional 234 shares during the period. Brooklyn Investment Group raised its stake in Griffon by 11,460.0% during the 1st quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 573 shares during the period. CWM LLC raised its stake in Griffon by 26.1% during the 1st quarter. CWM LLC now owns 2,000 shares of the conglomerate's stock valued at $143,000 after purchasing an additional 414 shares during the period. Finally, GAMMA Investing LLC raised its stake in Griffon by 153.1% during the 1st quarter. GAMMA Investing LLC now owns 2,718 shares of the conglomerate's stock valued at $194,000 after purchasing an additional 1,644 shares during the period. Institutional investors own 73.22% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on GFF shares. Raymond James Financial reissued a "strong-buy" rating and set a $100.00 target price (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Robert W. Baird lifted their target price on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen cut Griffon from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $98.20.

Griffon Price Performance

Shares of GFF traded up $3.36 during mid-day trading on Friday, hitting $75.63. 395,694 shares of the stock were exchanged, compared to its average volume of 548,892. The company has a market cap of $3.52 billion, a PE ratio of 56.44, a price-to-earnings-growth ratio of 1.15 and a beta of 1.09. Griffon Corporation has a 52-week low of $60.97 and a 52-week high of $86.73. The firm has a 50-day moving average of $75.47 and a two-hundred day moving average of $72.41. The company has a debt-to-equity ratio of 22.58, a quick ratio of 1.38 and a current ratio of 2.70.

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

Griffon Dividend Announcement

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

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.