Two Sigma Advisers LP Lowers Stock Holdings in Griffon Co. (NYSE:GFF)

Two Sigma Advisers LP lowered its stake in shares of Griffon Co. (NYSE:GFF - Free Report) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,100 shares of the conglomerate's stock after selling 18,400 shares during the quarter. Two Sigma Advisers LP owned 0.33% of Griffon worth $11,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. New Age Alpha Advisors LLC acquired a new position in shares of Griffon during the fourth quarter worth $30,000. R Squared Ltd acquired a new position in shares of Griffon during the fourth quarter worth $37,000. Headlands Technologies LLC acquired a new position in shares of Griffon during the fourth quarter worth $64,000. Smartleaf Asset Management LLC grew its stake in shares of Griffon by 343.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock worth $78,000 after purchasing an additional 845 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Griffon by 43.1% during the fourth quarter. KBC Group NV now owns 1,729 shares of the conglomerate's stock worth $123,000 after purchasing an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company's stock.

Wall Street Analysts Forecast Growth

GFF has been the subject of several research analyst reports. Raymond James restated 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Griffon in a report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price target for the company. Loop Capital raised shares of Griffon to a "strong-buy" rating in a report on Friday, February 14th. Wall Street Zen raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Finally, Stephens increased their price target on shares of Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Three analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average target price of $98.20.

Griffon Price Performance

Shares of GFF stock traded down $0.80 during trading hours on Wednesday, hitting $68.46. The company's stock had a trading volume of 69,406 shares, compared to its average volume of 439,689. The business has a fifty day moving average of $69.84 and a 200-day moving average of $73.46. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 13.95 and a beta of 1.17. Griffon Co. has a twelve month low of $55.01 and a twelve month high of $86.73. 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 (NYSE:GFF - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, beating the consensus estimate of $1.13 by $0.10. The business had revenue of $611.75 million for the quarter, compared to analyst estimates of $618.23 million. Griffon had a net margin of 9.13% and a return on equity of 120.61%. The company's quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 earnings per share. As a group, equities research analysts anticipate that Griffon Co. will post 5.55 EPS for the current year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.05%. Griffon's dividend payout ratio is presently 14.91%.

Griffon Company 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.