Public Sector Pension Investment Board Purchases 26,184 Shares of Griffon Corporation $GFF

Key Points

• Public Sector Pension Investment Board increased its stake in Griffon Corporation by 26.5%, acquiring an additional 26,184 shares, bringing its total ownership to 125,105 shares valued at approximately $8.9 million.
• Griffon Corporation's stock recently traded down 1.7% to $72.78, with a market cap of $3.39 billion and a P/E ratio of 54.31.
• The company announced a quarterly dividend of $0.18 per share, representing a 1.0% yield, with a payout ratio of 53.73%.

Public Sector Pension Investment Board raised its stake in Griffon Corporation (NYSE:GFF - Free Report) by 26.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,105 shares of the conglomerate's stock after buying an additional 26,184 shares during the period. Public Sector Pension Investment Board owned about 0.26% of Griffon worth $8,945,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC boosted its stake in shares of Griffon by 116.1% in the 4th quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate's stock valued at $27,000 after purchasing an additional 202 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Griffon by 72.9% in the 1st quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after purchasing an additional 234 shares in the last quarter. CWM LLC boosted its stake in shares of Griffon by 26.1% in the 1st quarter. CWM LLC now owns 2,000 shares of the conglomerate's stock valued at $143,000 after purchasing an additional 414 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Griffon by 153.1% in the 1st quarter. GAMMA Investing LLC now owns 2,718 shares of the conglomerate's stock valued at $194,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Griffon in the 4th quarter valued at $204,000. Institutional investors own 73.22% of the company's stock.

Griffon Trading Up 0.2%

NYSE GFF traded up $0.1150 during trading on Tuesday, hitting $74.1350. The company had a trading volume of 56,623 shares, compared to its average volume of 394,636. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 22.58. Griffon Corporation has a one year low of $60.97 and a one year high of $86.73. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 55.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. The company's fifty day moving average is $75.19 and its 200-day moving average is $72.52.

Griffon (NYSE:GFF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. The company had revenue of $613.63 million during the quarter, compared to analyst estimates of $649.95 million. Griffon had a net margin of 2.78% and a return on equity of 144.21%. Griffon's quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. On average, sell-side analysts predict that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 29th. Griffon's dividend payout ratio (DPR) is presently 53.73%.

Wall Street Analyst Weigh In

GFF has been the subject of a number of research reports. Wall Street Zen cut shares of Griffon from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Robert W. Baird upped their price objective on shares of Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $100.00 price objective (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $98.20.

About Griffon

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.