Griffon Corporation (NYSE:GFF) Shares Purchased by Arcadia Investment Management Corp MI

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

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Griffon by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate's stock worth $454,406,000 after purchasing an additional 177,771 shares during the period. Invesco Ltd. grew its holdings in Griffon by 36.0% during the 4th quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate's stock worth $63,582,000 after acquiring an additional 236,179 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Griffon by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 700,351 shares of the conglomerate's stock worth $49,914,000 after acquiring an additional 93,100 shares in the last quarter. Millennium Management LLC grew its holdings in Griffon by 31.0% during the 4th quarter. Millennium Management LLC now owns 674,520 shares of the conglomerate's stock worth $48,073,000 after acquiring an additional 159,557 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Griffon by 95,382.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate's stock worth $44,505,000 after buying an additional 623,803 shares during the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Price Performance

NYSE GFF traded down $1.34 during trading hours on Friday, reaching $78.28. The company's stock had a trading volume of 253,933 shares, compared to its average volume of 411,337. The stock has a market cap of $3.68 billion, a PE ratio of 16.21, a PEG ratio of 0.86 and a beta of 1.14. Griffon Corporation has a fifty-two week low of $55.01 and a fifty-two week high of $86.73. The company's 50-day moving average is $71.24 and its two-hundred day moving average is $71.98. The company has a debt-to-equity ratio of 7.12, a quick ratio of 1.48 and a current ratio of 2.78.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, topping 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 company had revenue of $611.75 million for the quarter, compared to analysts' expectations of $618.23 million. During the same period last year, the company earned $1.35 EPS. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts forecast that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 annualized dividend and a yield of 0.92%. Griffon's payout ratio is 14.91%.

Analysts Set New Price Targets

GFF has been the subject of several recent analyst reports. Raymond James Financial restated a "strong-buy" rating and set a $100.00 price objective (up previously from $95.00) on shares of Griffon in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Griffon in a research note on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target on the stock. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Griffon currently has a consensus rating of "Strong Buy" and an average 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.