Algert Global LLC Raises Stock Position in Griffon Corporation $GFF

Key Points

• Algert Global LLC increased its holdings in Griffon Corporation by 4.5%, owning approximately 189,735 shares valued at $13.57 million.
• The company reported earnings per share (EPS) of $1.50 for the latest quarter, matching analysts' estimates while revenue decreased by 5.3% compared to the previous year.
• Griffon Corporation announced a quarterly dividend of $0.18 per share, resulting in an annualized dividend yield of 1.0% and a payout ratio of 53.73%.

Algert Global LLC raised its stake in Griffon Corporation (NYSE:GFF - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,735 shares of the conglomerate's stock after acquiring an additional 8,100 shares during the period. Algert Global LLC owned 0.39% of Griffon worth $13,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC raised its holdings in shares of Griffon by 116.1% in the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after buying an additional 202 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Griffon by 72.9% in the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after buying an additional 234 shares during the last quarter. CWM LLC raised its holdings in shares of Griffon by 26.1% in the first quarter. CWM LLC now owns 2,000 shares of the conglomerate's stock valued at $143,000 after buying an additional 414 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Griffon by 153.1% in the first quarter. GAMMA Investing LLC now owns 2,718 shares of the conglomerate's stock valued at $194,000 after buying an additional 1,644 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Griffon in the fourth quarter valued at about $204,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Stock Performance

NYSE GFF traded up $3.7150 during trading hours on Friday, hitting $75.9850. 124,664 shares of the stock were exchanged, compared to its average volume of 394,042. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 56.70, a price-to-earnings-growth ratio of 1.10 and a beta of 1.09. Griffon Corporation has a 12-month low of $60.97 and a 12-month high of $86.73. The stock has a 50-day moving average of $75.31 and a 200 day moving average of $72.51. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. The firm had revenue of $613.63 million during the quarter, compared to analysts' expectations of $649.95 million. Griffon had a net margin of 2.78% and a return on equity of 144.21%. The firm's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. As a group, equities research analysts forecast 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. Shareholders of record on Friday, August 29th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Griffon's dividend payout ratio (DPR) is 53.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GFF shares. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $100.00 target price (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 report on Saturday, August 9th. Finally, Robert W. Baird upped their target price on shares of 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. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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.