Dynamic Technology Lab Private Ltd Lowers Holdings in Griffon Corporation $GFF

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 first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Voss Capital LP raised its position in Griffon by 10.5% during the 1st quarter. Voss Capital LP now owns 1,332,051 shares of the conglomerate's stock valued at $95,242,000 after purchasing an additional 127,051 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Griffon by 52.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 951,120 shares of the conglomerate's stock valued at $68,005,000 after purchasing an additional 326,663 shares in the last quarter. LSV Asset Management boosted its position in Griffon by 4.9% during the first quarter. LSV Asset Management now owns 828,013 shares of the conglomerate's stock valued at $59,203,000 after purchasing an additional 38,818 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Griffon during the first quarter valued at about $53,994,000. Finally, Millennium Management LLC boosted its position in Griffon by 31.0% during 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 in the last quarter. 73.22% of the stock is owned by institutional investors.

Griffon Stock Performance

Shares of GFF stock traded down $2.27 during mid-day trading on Friday, reaching $77.56. The stock had a trading volume of 232,803 shares, compared to its average volume of 338,973. The business's fifty day moving average is $77.28 and its 200-day moving average is $72.64. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 22.58. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 57.88, a PEG ratio of 1.22 and a beta of 1.15. Griffon Corporation has a 1-year low of $62.26 and a 1-year high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last announced its quarterly earnings data 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 for 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%.The company's revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 earnings per share. On average, research analysts forecast that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

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 paid a $0.18 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Griffon's dividend payout ratio is presently 53.73%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GFF. Robert W. Baird raised their price objective on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Wall Street Zen downgraded Griffon from a "buy" rating to a "hold" rating in a research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus 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.