Teacher Retirement System of Texas Has $417,000 Stock Position in Griffon Corporation (NYSE:GFF)

Teacher Retirement System of Texas lowered its stake in shares of Griffon Corporation (NYSE:GFF - Free Report) by 84.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,836 shares of the conglomerate's stock after selling 30,609 shares during the quarter. Teacher Retirement System of Texas' holdings in Griffon were worth $417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Griffon by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate's stock worth $454,406,000 after acquiring an additional 177,771 shares during the period. Invesco Ltd. boosted its position in Griffon by 36.0% during the 4th quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate's stock worth $63,582,000 after acquiring an additional 236,179 shares during the period. Renaissance Technologies LLC boosted its position in Griffon by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 700,351 shares of the conglomerate's stock worth $49,914,000 after acquiring an additional 93,100 shares during the period. Millennium Management LLC boosted its position in Griffon by 31.0% during the 4th quarter. Millennium Management LLC now owns 674,520 shares of the conglomerate's stock worth $48,073,000 after acquiring an additional 159,557 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Griffon by 95,382.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate's stock worth $44,505,000 after acquiring an additional 623,803 shares during the period. Institutional investors and hedge funds own 73.22% of the company's stock.

Analyst Ratings Changes

GFF has been the subject of a number of analyst reports. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft started coverage on Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price objective on the stock. Finally, Raymond James Financial reissued 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. Three research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Strong Buy" and an average price target of $98.20.

Griffon Trading Up 1.4%

Shares of Griffon stock traded up $1.04 on Monday, reaching $77.90. 253,017 shares of the company were exchanged, compared to its average volume of 409,025. The stock has a fifty day moving average price of $72.15 and a 200-day moving average price of $72.19. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. The company has a current ratio of 2.78, a quick ratio of 1.48 and a debt-to-equity ratio of 7.12. Griffon Corporation has a fifty-two week low of $55.01 and a fifty-two week high of $86.73.

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

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, May 30th. Griffon's dividend payout ratio (DPR) is presently 14.91%.

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.