Wealth Dimensions Group Ltd. Takes Position in Griffon Corporation (NYSE:GFF)

Wealth Dimensions Group Ltd. acquired a new position in Griffon Corporation (NYSE:GFF - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,130 shares of the conglomerate's stock, valued at approximately $438,000.

A number of other large investors have also modified their holdings of GFF. Natixis Advisors LLC increased its stake in shares of Griffon by 6.1% during the fourth quarter. Natixis Advisors LLC now owns 19,664 shares of the conglomerate's stock worth $1,401,000 after purchasing an additional 1,136 shares in the last quarter. Cibc World Markets Corp purchased a new stake in Griffon during the 4th quarter valued at about $251,000. Xponance Inc. purchased a new stake in Griffon during the 4th quarter valued at about $281,000. Summit Global Investments purchased a new stake in Griffon during the 4th quarter valued at about $231,000. Finally, American Century Companies Inc. grew its stake in Griffon by 83.2% during the 4th quarter. American Century Companies Inc. now owns 41,750 shares of the conglomerate's stock valued at $2,976,000 after acquiring an additional 18,966 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.

Griffon Trading Up 0.1%

Griffon stock traded up $0.08 during trading on Wednesday, hitting $81.43. The company had a trading volume of 296,094 shares, compared to its average volume of 408,467. Griffon Corporation has a 1-year low of $55.01 and a 1-year high of $86.73. The company has a current ratio of 2.78, a quick ratio of 1.48 and a debt-to-equity ratio of 7.12. The company's 50 day simple moving average is $72.40 and its 200-day simple moving average is $72.29. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.85 and a beta of 1.14.

Griffon (NYSE:GFF - Get Free Report) last issued 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. Griffon had a net margin of 9.06% and a return on equity of 114.46%. The company had revenue of $611.75 million during the quarter, compared to analysts' expectations of $618.23 million. During the same quarter last year, the company posted $1.35 EPS. The firm's revenue was down 9.1% compared to the same quarter last year. As a group, analysts expect that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, May 30th. Griffon's dividend payout ratio is presently 14.91%.

Analyst Ratings Changes

Several analysts have recently weighed in on GFF shares. Raymond James Financial reissued a "strong-buy" rating and issued a $100.00 price target (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Robert W. Baird upped their price objective on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Griffon in a report on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price objective on the stock. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Strong Buy" and a consensus price target of $98.20.

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.