Griffon Corporation (NYSE:GFF) Shares Bought by LSV Asset Management

Key Points

• LSV Asset Management increased its stake in Griffon Corporation by 4.9%, owning 828,013 shares valued at approximately $59 million, following the acquisition of an additional 38,818 shares.
• Analysts are optimistic about Griffon, with reports upgrading its rating to "strong-buy" and setting price targets of up to $100, reflecting a consensus price target of $98.20.
• Griffon has recently declared a quarterly dividend of $0.18 per share, representing an annualized yield of 0.9% and maintaining a low dividend payout ratio of 14.91%.

LSV Asset Management boosted its position in shares of Griffon Corporation (NYSE:GFF - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 828,013 shares of the conglomerate's stock after acquiring an additional 38,818 shares during the period. LSV Asset Management owned 1.72% of Griffon worth $59,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Griffon by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 234,035 shares of the conglomerate's stock valued at $16,734,000 after buying an additional 5,243 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of Griffon by 26.6% during the first quarter. Arcadia Investment Management Corp MI now owns 29,811 shares of the conglomerate's stock worth $2,131,000 after purchasing an additional 6,260 shares during the last quarter. Meritage Portfolio Management purchased a new stake in Griffon in the 1st quarter valued at about $5,010,000. Norges Bank purchased a new stake in shares of Griffon in the 4th quarter worth $21,451,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Griffon in the first quarter valued at about $53,994,000. Institutional investors own 73.22% of the company's stock.

Griffon Stock Up 0.7%

Griffon stock traded up $0.54 during trading hours on Monday, reaching $81.31. The stock had a trading volume of 249,270 shares, compared to its average volume of 372,006. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.88 and a beta of 1.09. 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 business's 50 day moving average price is $74.16 and its 200-day moving average price is $72.78. 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 posted its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $618.23 million. During the same quarter in the prior year, the company posted $1.35 earnings per share. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Griffon's dividend payout ratio is 14.91%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Raymond James Financial reiterated a "strong-buy" rating and issued a $100.00 target price (up from $95.00) on shares of Griffon in a report on Friday, May 9th. Finally, Robert W. Baird boosted 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. Three analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Griffon has an average rating of "Strong Buy" and a consensus price target of $98.20.

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.