Griffon Corporation (NYSE:GFF) Shares Sold by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC has reduced its stake in Griffon Corporation by 49.7%, now holding 11,619 shares valued at approximately $850,000.
• Griffon reported $1.23 earnings per share for the last quarter, exceeding analysts' expectations, although revenue fell 9.1% year-over-year.
• The company declared a quarterly dividend of $0.18 per share, with a dividend yield of 0.87%.

Bryce Point Capital LLC trimmed its position in shares of Griffon Corporation (NYSE:GFF - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,619 shares of the conglomerate's stock after selling 11,499 shares during the quarter. Bryce Point Capital LLC's holdings in Griffon were worth $850,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Griffon by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate's stock valued at $454,406,000 after acquiring an additional 177,771 shares during the last quarter. Invesco Ltd. boosted its position in shares of Griffon by 36.0% during the 4th quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate's stock valued at $63,582,000 after acquiring an additional 236,179 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Griffon by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 700,351 shares of the conglomerate's stock valued at $49,914,000 after acquiring an additional 93,100 shares during the last quarter. Millennium Management LLC boosted its position in shares of Griffon by 31.0% during the 4th quarter. Millennium Management LLC now owns 674,520 shares of the conglomerate's stock valued at $48,073,000 after acquiring an additional 159,557 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted 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 valued at $44,505,000 after acquiring an additional 623,803 shares during the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Trading Down 0.9%

NYSE:GFF traded down $0.70 on Thursday, reaching $80.93. 218,079 shares of the company's stock were exchanged, compared to its average volume of 370,521. The company has a quick ratio of 1.48, a current ratio of 2.78 and a debt-to-equity ratio of 7.12. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 0.90 and a beta of 1.14. The business has a fifty day moving average of $73.61 and a 200-day moving average of $72.72. Griffon Corporation has a 52-week low of $55.01 and a 52-week high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last released 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 net margin of 9.06% and a return on equity of 114.46%. The firm 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 firm earned $1.35 earnings per share. The business's quarterly revenue was down 9.1% compared to the same quarter last year. As a group, analysts expect that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

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. This represents a $0.72 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Friday, May 30th. Griffon's dividend payout ratio (DPR) is 14.91%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GFF shares. Wall Street Zen raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Raymond James Financial restated a "strong-buy" rating and issued a $100.00 price objective (up from $95.00) on shares of Griffon in a report on Friday, May 9th. Finally, Robert W. Baird boosted their price objective on shares of Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Griffon presently has an average rating of "Strong Buy" and a consensus 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.