LSV Asset Management Has $59.20 Million Holdings in Griffon Corporation (NYSE:GFF)

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 lifted its stake in shares of Griffon Corporation (NYSE:GFF - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 828,013 shares of the conglomerate's stock after acquiring an additional 38,818 shares during the quarter. LSV Asset Management owned about 1.72% of Griffon worth $59,203,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Summit Investment Advisors Inc. raised its position in shares of Griffon by 4.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,934 shares of the conglomerate's stock valued at $280,000 after purchasing an additional 154 shares during the period. Pictet Asset Management Holding SA lifted its position in Griffon by 4.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,977 shares of the conglomerate's stock worth $355,000 after acquiring an additional 198 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in Griffon by 116.1% during the fourth 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 grew its position in shares of Griffon by 72.9% in the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after purchasing an additional 234 shares during the last quarter. Finally, Keeley Teton Advisors LLC increased its stake in shares of Griffon by 5.8% in the fourth quarter. Keeley Teton Advisors LLC now owns 5,500 shares of the conglomerate's stock worth $392,000 after purchasing an additional 300 shares during the period. 73.22% of the stock is owned by institutional investors.

Griffon Stock Performance

Griffon stock traded down $7.67 during trading hours on Wednesday, hitting $74.68. The stock had a trading volume of 788,962 shares, compared to its average volume of 374,622. The company has a 50-day moving average of $74.70 and a two-hundred day moving average of $72.88. The company has a quick ratio of 1.48, a current ratio of 2.78 and a debt-to-equity ratio of 7.12. Griffon Corporation has a fifty-two week low of $55.01 and a fifty-two week high of $86.73. The company has a market cap of $3.51 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Griffon had a return on equity of 114.46% and a net margin of 9.06%. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. On average, equities research analysts anticipate that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Griffon's payout ratio is currently 14.91%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in 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 reissued a "strong-buy" rating and issued a $100.00 price objective (up from $95.00) on shares of Griffon in a research 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 research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Griffon has a consensus 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.