Point72 Asset Management L.P. Lowers Stock Holdings in Griffon Co. (NYSE:GFF)

Point72 Asset Management L.P. lessened its holdings in shares of Griffon Co. (NYSE:GFF - Free Report) by 42.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,065 shares of the conglomerate's stock after selling 201,425 shares during the period. Point72 Asset Management L.P. owned approximately 0.57% of Griffon worth $19,390,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. New Age Alpha Advisors LLC acquired a new position in Griffon during the 4th quarter valued at about $30,000. Grove Bank & Trust purchased a new stake in shares of Griffon during the fourth quarter worth about $33,000. R Squared Ltd acquired a new position in shares of Griffon during the fourth quarter valued at about $37,000. Headlands Technologies LLC acquired a new position in shares of Griffon during the fourth quarter valued at about $64,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Griffon by 343.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock valued at $78,000 after purchasing an additional 845 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 target price on the stock. Wall Street Zen upgraded shares of Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Stephens boosted their price objective on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Raymond James restated a "strong-buy" rating and issued a $100.00 target price (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Finally, Loop Capital raised Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Strong Buy" and an average target price of $98.20.

Griffon Stock Performance

NYSE GFF traded down $0.46 on Friday, hitting $67.18. 52,434 shares of the company's stock traded hands, compared to its average volume of 397,865. The firm's 50-day moving average price is $70.04 and its two-hundred day moving average price is $73.41. The firm has a market capitalization of $3.16 billion, a PE ratio of 13.71 and a beta of 1.17. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44. Griffon Co. has a 1-year low of $55.01 and a 1-year high of $86.73.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.10. Griffon had a net margin of 9.13% and a return on equity of 120.61%. The firm had revenue of $611.75 million during the quarter, compared to analysts' expectations of $618.23 million. During the same quarter last year, the company posted $1.35 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. As a group, analysts expect that Griffon Co. will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. Griffon's payout ratio is 14.91%.

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.