Moran Wealth Management LLC Acquires 25,790 Shares of Griffon Corporation $GFF

Key Points

• Moran Wealth Management LLC raised its Griffon stake by 97.4%, acquiring 25,790 shares to hold 52,258 shares worth about $3.85 million (roughly 0.11% of the company).
• Griffon beat quarterly expectations with EPS $1.45 vs. $1.34 and revenue $649.1M vs. $618.4M, and analysts hold a consensus "Moderate Buy" rating with an average target of $107.67.
• Insiders sold stock recently (SVP sold 15,000 shares; a director sold 3,070), while institutional investors own 73.22% of shares and insiders hold 10.20%.

Moran Wealth Management LLC raised its holdings in shares of Griffon Corporation (NYSE:GFF - Free Report) by 97.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 52,258 shares of the conglomerate's stock after acquiring an additional 25,790 shares during the period. Moran Wealth Management LLC owned approximately 0.11% of Griffon worth $3,849,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Millennium Management LLC lifted its holdings in shares of Griffon by 166.4% during the 3rd quarter. Millennium Management LLC now owns 324,553 shares of the conglomerate's stock valued at $24,715,000 after purchasing an additional 202,714 shares in the last quarter. Bessemer Group Inc. increased its holdings in Griffon by 123,307.7% during the 3rd quarter. Bessemer Group Inc. now owns 191,282 shares of the conglomerate's stock worth $14,565,000 after purchasing an additional 191,127 shares in the last quarter. Voss Capital LP boosted its stake in shares of Griffon by 13.7% during the 3rd quarter. Voss Capital LP now owns 1,535,000 shares of the conglomerate's stock worth $116,890,000 after buying an additional 185,000 shares during the last quarter. Lodge Hill Capital LLC acquired a new position in shares of Griffon during the 3rd quarter worth about $11,042,000. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Griffon by 45.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 430,209 shares of the conglomerate's stock worth $32,760,000 after buying an additional 134,987 shares during the last quarter. Institutional investors own 73.22% of the company's stock.

Griffon Stock Up 4.6%

Shares of GFF opened at $87.67 on Friday. Griffon Corporation has a 12 month low of $63.92 and a 12 month high of $97.58. The firm's 50 day moving average is $79.78 and its 200-day moving average is $77.73. The stock has a market capitalization of $4.08 billion, a PE ratio of 95.29, a P/E/G ratio of 1.40 and a beta of 1.36. The company has a current ratio of 2.55, a quick ratio of 1.27 and a debt-to-equity ratio of 12.36.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Thursday, February 5th. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $649.09 million for the quarter, compared to analysts' expectations of $618.35 million. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. Equities research analysts forecast that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Friday, February 27th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 27th. Griffon's payout ratio is presently 95.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Griffon in a research note on Friday, March 27th. Stephens increased their price objective on shares of Griffon from $92.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, February 9th. Zacks Research downgraded shares of Griffon from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 17th. Robert W. Baird set a $108.00 price objective on shares of Griffon in a research note on Friday, February 6th. Finally, Wall Street Zen downgraded shares of Griffon from a "buy" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $107.67.

Insiders Place Their Bets

In other Griffon news, SVP Seth L. Kaplan sold 15,000 shares of Griffon stock in a transaction on Monday, February 9th. The shares were sold at an average price of $95.44, for a total value of $1,431,600.00. Following the completion of the sale, the senior vice president directly owned 119,747 shares of the company's stock, valued at approximately $11,428,653.68. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James W. Sight sold 3,070 shares of Griffon stock in a transaction on Monday, February 9th. The shares were sold at an average price of $96.15, for a total transaction of $295,180.50. Following the completion of the sale, the director directly owned 13,872 shares of the company's stock, valued at approximately $1,333,792.80. This trade represents a 18.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 10.20% of the company's stock.

Griffon Company Profile

Griffon Corporation NYSE: GFF is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon's portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon's Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.

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