Griffon Co. (NYSE:GFF) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its stake in Griffon Co. (NYSE:GFF - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,010 shares of the conglomerate's stock after selling 10,947 shares during the period. Tidal Investments LLC's holdings in Griffon were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI grew its stake in Griffon by 35.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 23,551 shares of the conglomerate's stock worth $1,678,000 after purchasing an additional 6,125 shares in the last quarter. Norges Bank purchased a new stake in shares of Griffon in the 4th quarter worth $21,451,000. Charles Schwab Investment Management Inc. grew its position in shares of Griffon by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,200 shares of the conglomerate's stock worth $38,358,000 after buying an additional 18,274 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Griffon by 57.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 27,247 shares of the conglomerate's stock valued at $1,942,000 after buying an additional 9,896 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Griffon by 7.7% during the fourth quarter. Wells Fargo & Company MN now owns 59,704 shares of the conglomerate's stock valued at $4,255,000 after buying an additional 4,251 shares during the period. 73.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GFF has been the topic of several recent research reports. Raymond James reiterated a "strong-buy" rating and set a $100.00 target price (up from $95.00) on shares of Griffon in a report on Friday, May 9th. Loop Capital upgraded shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Griffon in a report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price objective on the stock. Wall Street Zen raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Finally, Stephens increased their target price on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Three 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, Griffon currently has an average rating of "Strong Buy" and an average target price of $98.20.

Griffon Stock Performance

Shares of NYSE:GFF traded down $0.12 on Friday, hitting $68.66. 56,913 shares of the company were exchanged, compared to its average volume of 439,927. The firm has a market capitalization of $3.23 billion, a P/E ratio of 14.06 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. The stock's 50 day moving average price is $69.67 and its 200 day moving average price is $73.42.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.10. The firm had revenue of $611.75 million for the quarter, compared to analyst estimates of $618.23 million. Griffon had a return on equity of 120.61% and a net margin of 9.13%. Griffon's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 earnings per share. Sell-side analysts predict that Griffon Co. will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th will be paid a $0.18 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.05%. 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.