PNC Financial Services Group Inc. Has $602,000 Holdings in Griffon Corporation (NYSE:GFF)

PNC Financial Services Group Inc. lifted its holdings in Griffon Corporation (NYSE:GFF - Free Report) by 118.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,420 shares of the conglomerate's stock after acquiring an additional 4,568 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Griffon were worth $602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. LSV Asset Management boosted its holdings in shares of Griffon by 4.9% in the 1st quarter. LSV Asset Management now owns 828,013 shares of the conglomerate's stock worth $59,203,000 after acquiring an additional 38,818 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Griffon in the 1st quarter worth approximately $53,994,000. Mackenzie Financial Corp lifted its holdings in Griffon by 7.7% during the 1st quarter. Mackenzie Financial Corp now owns 27,356 shares of the conglomerate's stock worth $1,956,000 after buying an additional 1,953 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Griffon by 13.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,684 shares of the conglomerate's stock worth $549,000 after buying an additional 886 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Griffon by 6.5% during the 1st quarter. Cetera Investment Advisers now owns 5,503 shares of the conglomerate's stock worth $393,000 after buying an additional 335 shares in the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Griffon Stock Performance

GFF stock opened at $72.90 on Wednesday. The business's fifty day moving average is $74.88 and its 200-day moving average is $72.63. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58. The company has a market cap of $3.39 billion, a P/E ratio of 54.40, a price-to-earnings-growth ratio of 1.06 and a beta of 1.09. Griffon Corporation has a twelve month low of $59.98 and a twelve month high of $86.73.

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

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Griffon's dividend payout ratio is 53.73%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GFF shares. Raymond James Financial reaffirmed a "strong-buy" rating and set a $100.00 price objective (up previously from $95.00) on shares of Griffon in a report on Friday, May 9th. Wall Street Zen downgraded Griffon from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Robert W. Baird upped their price objective on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Griffon has a consensus rating of "Buy" and an average target price 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.

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