Griffon Corporation $GFF Shares Sold by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in Griffon Corporation by 45.9% in the first quarter, selling 7,410 shares to hold 8,740 shares valued at $625,000.
• Griffon reported earnings per share of $1.50 for its latest quarter, meeting analyst expectations, but experienced a 5.3% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.18 per share, representing an annualized yield of 0.9%, set to be paid on September 16th.

Dynamic Technology Lab Private Ltd lowered its holdings in shares of Griffon Corporation (NYSE:GFF - Free Report) by 45.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,740 shares of the conglomerate's stock after selling 7,410 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Griffon were worth $625,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC grew its position in shares of Griffon by 116.1% during the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock worth $27,000 after purchasing an additional 202 shares in the last quarter. Signaturefd LLC grew its position in shares of Griffon by 72.9% during the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock worth $40,000 after purchasing an additional 234 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Griffon by 11,460.0% during the first quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock worth $41,000 after purchasing an additional 573 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Griffon during the 1st quarter valued at approximately $49,000. Finally, CWM LLC grew its holdings 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 buying an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GFF shares. Wall Street Zen cut Griffon from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird raised their price target on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Two investment 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, Griffon currently has an average rating of "Buy" and an average target price of $98.20.

Griffon Stock Up 0.9%

NYSE GFF traded up $0.72 on Monday, reaching $78.22. 40,022 shares of the stock traded hands, compared to its average volume of 390,016. The company has a debt-to-equity ratio of 22.58, a quick ratio of 1.38 and a current ratio of 2.70. The company has a fifty day moving average price of $77.28 and a 200-day moving average price of $72.65. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 58.38, a PEG ratio of 1.18 and a beta of 1.15. Griffon Corporation has a 12 month low of $62.26 and a 12 month high of $86.73.

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

Griffon Announces Dividend

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