Two Sigma Investments LP Sells 21,746 Shares of Griffon Co. (NYSE:GFF)

Two Sigma Investments LP lessened its stake in shares of Griffon Co. (NYSE:GFF - Free Report) by 15.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 121,932 shares of the conglomerate's stock after selling 21,746 shares during the period. Two Sigma Investments LP owned approximately 0.26% of Griffon worth $8,690,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its stake in shares of Griffon by 95,382.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate's stock valued at $44,505,000 after acquiring an additional 623,803 shares during the period. Raymond James Financial Inc. bought a new position in Griffon during the 4th quarter valued at about $43,325,000. Norges Bank purchased a new stake in Griffon in the 4th quarter worth about $21,451,000. Invesco Ltd. lifted its stake in Griffon by 36.0% in the fourth quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate's stock worth $63,582,000 after purchasing an additional 236,179 shares during the last quarter. Finally, abrdn plc bought a new stake in Griffon in the fourth quarter worth about $12,842,000. 73.22% of the stock is currently owned by institutional investors.

Griffon Trading Down 0.2%

NYSE:GFF traded down $0.12 during midday trading on Friday, hitting $68.66. The stock had a trading volume of 56,913 shares, compared to its average volume of 439,927. The stock has a 50-day moving average of $69.67 and a 200 day moving average of $73.42. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 14.06 and a beta of 1.17. Griffon Co. has a one year low of $55.01 and a one year high of $86.73. The company has a quick ratio of 1.34, a current ratio of 2.51 and a debt-to-equity ratio of 6.44.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly 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 business had revenue of $611.75 million for the quarter, compared to the consensus estimate of $618.23 million. Griffon had a return on equity of 120.61% and a net margin of 9.13%. The business's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 EPS. As a group, sell-side analysts forecast that Griffon Co. will post 5.55 EPS for the current year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, May 30th. Griffon's dividend payout ratio (DPR) is 14.91%.

Analyst Upgrades and Downgrades

GFF has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Griffon in a research note on Tuesday, April 1st. They set a "buy" rating and a $91.00 target price on the stock. Stephens upped their price objective on Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Loop Capital upgraded Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Raymond James reiterated a "strong-buy" rating and set 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 upgraded shares of Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Three equities research 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 a consensus rating of "Strong Buy" and an average price target 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.