Arcadia Investment Management Corp MI grew its stake in Griffon Corporation (NYSE:GFF - Free Report) by 26.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,811 shares of the conglomerate's stock after purchasing an additional 6,260 shares during the quarter. Arcadia Investment Management Corp MI owned approximately 0.06% of Griffon worth $2,131,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its holdings in Griffon by 4.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,934 shares of the conglomerate's stock valued at $280,000 after purchasing an additional 154 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Griffon by 4.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,977 shares of the conglomerate's stock valued at $355,000 after buying an additional 198 shares in the last quarter. McIlrath & Eck LLC boosted its position in shares of 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 purchasing an additional 202 shares during the period. Keeley Teton Advisors LLC boosted its position in shares of Griffon by 5.8% in the fourth quarter. Keeley Teton Advisors LLC now owns 5,500 shares of the conglomerate's stock worth $392,000 after buying an additional 300 shares during the period. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Griffon by 5.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 5,701 shares of the conglomerate's stock valued at $406,000 after buying an additional 319 shares during the period. 73.22% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on GFF shares. Raymond James Financial reiterated 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. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price target for the company. Three equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Strong Buy" and a consensus target price of $98.20.
Check Out Our Latest Analysis on GFF
Griffon Price Performance
Shares of Griffon stock opened at $76.83 on Wednesday. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.83 and a beta of 1.14. Griffon Corporation has a 52 week low of $55.01 and a 52 week high of $86.73. The stock's 50-day simple moving average is $70.82 and its 200-day simple moving average is $71.88. The company has a quick ratio of 1.48, a current ratio of 2.78 and a debt-to-equity ratio of 7.12.
Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, beating the consensus estimate of $1.13 by $0.10. Griffon had a net margin of 9.06% and a return on equity of 114.46%. The business had revenue of $611.75 million for the quarter, compared to the consensus estimate of $618.23 million. During the same period in the prior year, the firm earned $1.35 EPS. The business's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts expect that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.
Griffon Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th were issued a $0.18 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.94%. Griffon's payout ratio is 14.91%.
About Griffon
(
Free Report)
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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