Kavar Capital Partners Group LLC Raises Holdings in Griffon Corporation (NYSE:GFF)

Kavar Capital Partners Group LLC grew its position in shares of Griffon Corporation (NYSE:GFF - Free Report) by 20.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,829 shares of the conglomerate's stock after purchasing an additional 3,545 shares during the period. Kavar Capital Partners Group LLC's holdings in Griffon were worth $1,489,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Griffon by 2.9% in the fourth 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 in the last quarter. Invesco Ltd. raised its stake in shares of Griffon by 36.0% in the fourth 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 in the last quarter. Renaissance Technologies LLC raised its stake in shares of Griffon by 15.3% in the fourth 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 in the last quarter. Millennium Management LLC raised its stake in shares of Griffon by 31.0% in the fourth 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 in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Griffon by 95,382.7% in the fourth 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 in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on GFF shares. 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 reiterated a "strong-buy" rating and issued a $100.00 price objective (up from $95.00) on shares of Griffon in a research note on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Griffon in a report on Tuesday, April 1st. They issued a "buy" rating and a $91.00 target price on the stock. Three investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Strong Buy" and a consensus price target of $98.20.

Griffon Stock Up 1.0%

NYSE:GFF traded up $0.69 during trading hours on Friday, hitting $72.61. The company's stock had a trading volume of 779,148 shares, compared to its average volume of 412,375. The stock has a market capitalization of $3.41 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. The stock has a fifty day moving average of $69.46 and a 200-day moving average of $71.79. The company has a current ratio of 2.78, a quick ratio of 1.48 and a debt-to-equity ratio of 7.12. 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 issued its quarterly earnings data 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. The company had revenue of $611.75 million for the quarter, compared to analyst estimates of $618.23 million. Griffon had a return on equity of 114.46% and a net margin of 9.06%. The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 earnings per share. On average, equities analysts forecast that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, May 30th. Griffon's payout ratio is 14.91%.

Griffon 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.