Livforsakringsbolaget Skandia Omsesidigt Has $4.56 Million Holdings in Griffon Corporation $GFF

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Griffon Corporation by 28.3%, owning approximately $4.56 million worth of shares as of the latest SEC filing.
• Griffon Corporation's stock received mixed ratings, with Wall Street Zen downgrading it from "buy" to "hold", while Robert W. Baird set a target price increase from $92.00 to $100.00.
• The company reported earnings of $1.50 EPS for the last quarter, meeting expectations, but experienced a 5.3% decline in revenue compared to the previous year.

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Griffon Corporation (NYSE:GFF - Free Report) by 28.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,009 shares of the conglomerate's stock after acquiring an additional 13,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned about 0.13% of Griffon worth $4,557,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. McIlrath & Eck LLC raised its holdings in Griffon by 116.1% in the 4th quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after acquiring an additional 202 shares during the period. Signaturefd LLC raised its holdings in Griffon by 72.9% in the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 234 shares during the period. Brooklyn Investment Group raised its holdings in Griffon by 11,460.0% in the 1st quarter. Brooklyn Investment Group now owns 578 shares of the conglomerate's stock valued at $41,000 after acquiring an additional 573 shares during the period. NewEdge Advisors LLC bought a new position in Griffon in the 1st quarter valued at about $49,000. Finally, Strs Ohio bought a new position in Griffon in the 1st quarter valued at about $57,000. 73.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GFF has been the topic of several research analyst reports. Wall Street Zen cut shares of Griffon from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird raised their target price on shares of Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, Griffon has an average rating of "Buy" and a consensus target price of $98.20.

Griffon Price Performance

Griffon stock traded up $0.72 during mid-day trading on Tuesday, reaching $76.59. The company had a trading volume of 44,703 shares, compared to its average volume of 387,658. Griffon Corporation has a fifty-two week low of $62.26 and a fifty-two week high of $86.73. 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 company has a market cap of $3.57 billion, a P/E ratio of 57.15, a P/E/G ratio of 1.16 and a beta of 1.15. The business has a fifty day simple moving average of $77.13 and a 200 day simple moving average of $72.93.

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

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, August 29th. Griffon's payout ratio is 53.73%.

About Griffon

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.