Segall Bryant & Hamill LLC Has $20.22 Million Stake in Griffon Corporation (NYSE:GFF)

Segall Bryant & Hamill LLC grew its stake in shares of Griffon Corporation (NYSE:GFF - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,837 shares of the conglomerate's stock after purchasing an additional 34,945 shares during the period. Segall Bryant & Hamill LLC owned about 0.59% of Griffon worth $20,223,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in shares of Griffon by 6.9% during the first quarter. Victory Capital Management Inc. now owns 32,575 shares of the conglomerate's stock valued at $2,329,000 after purchasing an additional 2,094 shares during the last quarter. Signaturefd LLC raised its position in Griffon by 72.9% during the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate's stock valued at $40,000 after buying an additional 234 shares during the period. CWM LLC raised its position in Griffon by 26.1% during the first quarter. CWM LLC now owns 2,000 shares of the conglomerate's stock valued at $143,000 after buying an additional 414 shares during the period. New York State Common Retirement Fund raised its position in Griffon by 12.8% during the first quarter. New York State Common Retirement Fund now owns 13,232 shares of the conglomerate's stock valued at $946,000 after buying an additional 1,500 shares during the period. Finally, Alps Advisors Inc. acquired a new position in Griffon during the first quarter valued at $364,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Stock Down 0.7%

Shares of GFF traded down $0.56 during trading hours on Friday, hitting $76.97. 249,859 shares of the company were exchanged, compared to its average volume of 409,030. The company has a market cap of $3.62 billion, a PE ratio of 15.94, a PEG ratio of 0.85 and a beta of 1.14. The firm's 50 day moving average is $72.15 and its 200-day moving average is $72.18. Griffon Corporation has a 52 week low of $55.01 and a 52 week high of $86.73. The company has a debt-to-equity ratio of 7.12, a quick ratio of 1.48 and a current ratio of 2.78.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.10. Griffon had a return on equity of 114.46% and a net margin of 9.06%. The firm had revenue of $611.75 million during the quarter, compared to the consensus estimate of $618.23 million. During the same quarter in the prior year, the company earned $1.35 EPS. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.94%. Griffon's dividend payout ratio is currently 14.91%.

Analysts Set New Price Targets

GFF has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $100.00 target price (up from $95.00) on shares of Griffon in a research report on Friday, May 9th. Finally, Wall Street Zen raised Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Three investment 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 stock has an average rating of "Strong Buy" and an average 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.