Three Seasons Wealth LLC Purchases New Shares in Griffon Corporation $GFF

Key Points

• Three Seasons Wealth LLC has acquired a new position in Griffon Corporation, purchasing 6,000 shares valued at approximately $434,000 during the 2nd quarter.
• The company's quarterly earnings showed earnings per share of $1.50, meeting analysts' estimates, but revenue dropped 5.3% year-over-year.
• Griffon recently declared a quarterly dividend of $0.18 per share, representing an annualized yield of 0.9% with a payout ratio of 53.73%.

Three Seasons Wealth LLC acquired a new stake in shares of Griffon Corporation (NYSE:GFF - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,000 shares of the conglomerate's stock, valued at approximately $434,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Voss Capital LP increased its holdings in Griffon by 10.5% during the first quarter. Voss Capital LP now owns 1,332,051 shares of the conglomerate's stock valued at $95,242,000 after buying an additional 127,051 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Griffon by 52.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 951,120 shares of the conglomerate's stock worth $68,005,000 after purchasing an additional 326,663 shares during the period. LSV Asset Management boosted its position in shares of Griffon by 4.9% in the first quarter. LSV Asset Management now owns 828,013 shares of the conglomerate's stock worth $59,203,000 after purchasing an additional 38,818 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Griffon in the first quarter worth approximately $53,994,000. Finally, Raymond James Financial Inc. boosted its position in shares of Griffon by 9.8% during the first quarter. Raymond James Financial Inc. now owns 667,692 shares of the conglomerate's stock worth $47,740,000 after acquiring an additional 59,797 shares during the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GFF. Wall Street Zen lowered shares of Griffon from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Robert W. Baird raised their price target on shares of Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, Griffon has a consensus rating of "Buy" and an average price target of $98.20.

Griffon Price Performance

NYSE:GFF traded up $0.46 during trading hours on Tuesday, reaching $76.33. 37,171 shares of the company were exchanged, compared to its average volume of 387,639. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 22.58. The stock's 50-day moving average is $77.13 and its 200-day moving average is $72.93. The firm has a market cap of $3.55 billion, a PE ratio of 56.96, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. Griffon Corporation has a twelve month low of $62.26 and a twelve month high of $86.73.

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

Griffon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Griffon's dividend payout ratio (DPR) is presently 53.73%.

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.