Arcadia Investment Management Corp MI Increases Holdings in Griffon Corporation (NYSE:GFF)

Arcadia Investment Management Corp MI boosted its holdings in shares of Griffon Corporation (NYSE:GFF - Free Report) by 26.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,811 shares of the conglomerate's stock after acquiring an additional 6,260 shares during the quarter. Arcadia Investment Management Corp MI owned about 0.06% of Griffon worth $2,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Griffon in the fourth quarter valued at $21,451,000. Meritage Portfolio Management acquired a new stake in shares of Griffon in the first quarter valued at $5,010,000. Kavar Capital Partners Group LLC grew its stake in shares of Griffon by 20.5% in the first quarter. Kavar Capital Partners Group LLC now owns 20,829 shares of the conglomerate's stock valued at $1,489,000 after buying an additional 3,545 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Griffon by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,200 shares of the conglomerate's stock valued at $38,358,000 after buying an additional 18,274 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Griffon by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 59,704 shares of the conglomerate's stock valued at $4,255,000 after buying an additional 4,251 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price objective for the company. Wall Street Zen raised Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $100.00 target price (up from $95.00) on shares of Griffon in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Griffon presently has a consensus rating of "Strong Buy" and an average price target of $98.20.

Griffon Stock Up 1.5%

GFF traded up $1.18 on Thursday, hitting $79.75. 335,310 shares of the company were exchanged, compared to its average volume of 411,967. Griffon Corporation has a twelve month low of $55.01 and a twelve month high of $86.73. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 0.86 and a beta of 1.14. The company has a current ratio of 2.78, a quick ratio of 1.48 and a debt-to-equity ratio of 7.12. The firm has a 50-day moving average price of $71.24 and a two-hundred day moving average price of $71.98.

Griffon (NYSE:GFF - Get Free Report) last released its earnings results on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, topping the consensus estimate of $1.13 by $0.10. Griffon had a return on equity of 114.46% and a net margin of 9.06%. The firm had revenue of $611.75 million during the quarter, compared to analysts' expectations of $618.23 million. During the same period in the previous year, the firm posted $1.35 EPS. Griffon's revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities analysts predict that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, May 30th. Griffon's dividend payout ratio (DPR) is 14.91%.

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.