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

Arcadia Investment Management Corp MI lifted its stake in shares of Griffon Corporation (NYSE:GFF - Free Report) by 26.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. 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 0.06% of Griffon worth $2,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC raised its stake in shares of Griffon by 116.1% during 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. New Age Alpha Advisors LLC bought a new stake in shares of Griffon during the 4th quarter valued at $30,000. Headlands Technologies LLC bought a new stake in shares of Griffon during the 4th quarter valued at $64,000. Vestcor Inc bought a new stake in shares of Griffon during the 4th quarter valued at $136,000. Finally, GAMMA Investing LLC raised its stake in shares of Griffon by 153.1% during the 1st quarter. GAMMA Investing LLC now owns 2,718 shares of the conglomerate's stock valued at $194,000 after purchasing an additional 1,644 shares during the period. 73.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GFF has been the topic of a number of analyst reports. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Raymond James Financial restated a "strong-buy" rating and issued a $100.00 target price (up from $95.00) on shares of Griffon in a research note on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 target price on the stock. Three research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Griffon currently has a consensus rating of "Strong Buy" and an average target price of $98.20.

Griffon Price Performance

NYSE GFF traded down $1.34 during trading on Friday, reaching $78.28. The company's stock had a trading volume of 253,933 shares, compared to its average volume of 411,784. The stock has a market capitalization of $3.68 billion, a PE ratio of 16.21, a P/E/G ratio of 0.86 and a beta of 1.14. The company has a debt-to-equity ratio of 7.12, a current ratio of 2.78 and a quick ratio of 1.48. The firm has a fifty day moving average of $71.39 and a 200 day moving average of $72.00. Griffon Corporation has a one year low of $55.01 and a one year high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.10. Griffon had a return on equity of 114.46% and a net margin of 9.06%. The business had revenue of $611.75 million for the quarter, compared to analyst estimates of $618.23 million. During the same period in the prior year, the company earned $1.35 EPS. The company's quarterly revenue was down 9.1% compared to the same quarter last year. Analysts expect that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, May 30th. Griffon's payout ratio is currently 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.