Griffon Corporation $GFF Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in Griffon Corporation by 41.8%, owning 31,921 shares valued at approximately $2.28 million after selling 22,883 shares in the first quarter.
• Griffon announced a quarterly dividend of $0.18 per share, with a yield of 1.0%, to be paid on September 16, 2023.
• The company's stock has dropped 2.0%, currently trading at $72.2150, with a twelve-month low of $60.97 and a high of $86.73.

Deutsche Bank AG reduced its stake in shares of Griffon Corporation (NYSE:GFF - Free Report) by 41.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,921 shares of the conglomerate's stock after selling 22,883 shares during the period. Deutsche Bank AG owned 0.07% of Griffon worth $2,282,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC raised its holdings in Griffon by 116.1% in the 4th quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after acquiring an additional 202 shares during the last quarter. Signaturefd LLC raised its holdings in Griffon by 72.9% in the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 234 shares during the last quarter. CWM LLC raised its holdings in Griffon by 26.1% in the 1st quarter. CWM LLC now owns 2,000 shares of the conglomerate's stock valued at $143,000 after acquiring an additional 414 shares during the last quarter. GAMMA Investing LLC raised its holdings in Griffon by 153.1% in the 1st quarter. GAMMA Investing LLC now owns 2,718 shares of the conglomerate's stock valued at $194,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Griffon in the 4th quarter valued at $204,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Stock Down 2.0%

Shares of Griffon stock opened at $72.2150 on Thursday. The company has a fifty day moving average price of $75.26 and a 200 day moving average price of $72.53. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 22.58. Griffon Corporation has a twelve month low of $60.97 and a twelve month high of $86.73. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 53.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.09.

Griffon (NYSE:GFF - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $649.95 million. During the same period in the prior year, the company earned $1.24 EPS. The firm's revenue was down 5.3% on a year-over-year basis. Equities research analysts forecast that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.

Griffon Announces Dividend

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

Wall Street Analyst Weigh In

GFF has been the subject of several analyst reports. Raymond James Financial reiterated a "strong-buy" rating and issued a $100.00 price target (up from $95.00) on shares of Griffon in a report 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 boosted their price objective on shares of Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. 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. Based on data from MarketBeat, Griffon presently has an average rating of "Buy" and an average 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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