Inspire Investing LLC Sells 10,251 Shares of Griffon Corporation $GFF

Key Points

• Inspire Investing LLC reduced its stake in Griffon Corporation by 65.6%, selling 10,251 shares and holding 5,377 shares worth $389,000 by the end of Q2.
• Griffon announced a quarterly dividend of $0.18 per share, with a 1.0% dividend yield and a payout ratio of 53.73%.
• The stock's current market capitalization is $3.52 billion, with a recent share price of $75.61 and a consensus price target of $98.20 from analysts.

Inspire Investing LLC lowered its position in Griffon Corporation (NYSE:GFF - Free Report) by 65.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,377 shares of the conglomerate's stock after selling 10,251 shares during the period. Inspire Investing LLC's holdings in Griffon were worth $389,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. bought a new position in Griffon in the 2nd quarter worth $83,000. IFP Advisors Inc boosted its holdings in Griffon by 8,720.0% in the 2nd quarter. IFP Advisors Inc now owns 441 shares of the conglomerate's stock worth $32,000 after buying an additional 436 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in Griffon by 11.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 8,100 shares of the conglomerate's stock worth $586,000 after buying an additional 800 shares during the period. Ameritas Advisory Services LLC bought a new position in Griffon in the 2nd quarter worth $52,000. Finally, State of Alaska Department of Revenue boosted its holdings in Griffon by 6.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 23,206 shares of the conglomerate's stock worth $1,678,000 after buying an additional 1,347 shares during the period. Institutional investors own 73.22% of the company's stock.

Griffon Stock Up 1.1%

Shares of NYSE GFF opened at $75.61 on Thursday. The firm's 50-day moving average price is $75.79 and its 200-day moving average price is $73.46. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 22.58. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 56.43, a P/E/G ratio of 1.02 and a beta of 1.11. Griffon Corporation has a 12-month low of $62.26 and a 12-month high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. The firm had revenue of $613.63 million for the quarter, compared to analysts' expectations of $649.95 million. Griffon had a net margin of 2.78% and a return on equity of 144.21%. The business's revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. On average, equities research analysts anticipate that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, August 29th. Griffon's dividend payout ratio is currently 53.73%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GFF. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Griffon in a report on Tuesday. Robert W. Baird increased 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. Zacks Research downgraded shares of Griffon from a "hold" rating to a "strong sell" rating in a report on Monday, October 6th. Finally, Wall Street Zen downgraded shares of Griffon from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.

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