Wealth Dimensions Group Ltd. Invests $438,000 in Griffon Corporation (NYSE:GFF)

Wealth Dimensions Group Ltd. acquired a new position in Griffon Corporation (NYSE:GFF - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,130 shares of the conglomerate's stock, valued at approximately $438,000.

Other large investors also recently modified their holdings of the company. Gallacher Capital Management LLC purchased a new position in shares of Griffon in the first quarter valued at about $247,000. Optimist Retirement Group LLC increased its stake in Griffon by 8.4% during the first quarter. Optimist Retirement Group LLC now owns 3,894 shares of the conglomerate's stock worth $278,000 after acquiring an additional 302 shares during the last quarter. Jennison Associates LLC increased its stake in Griffon by 95.6% during the first quarter. Jennison Associates LLC now owns 18,088 shares of the conglomerate's stock worth $1,293,000 after acquiring an additional 8,841 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Griffon by 14.1% during the first quarter. Segall Bryant & Hamill LLC now owns 282,837 shares of the conglomerate's stock worth $20,223,000 after acquiring an additional 34,945 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Griffon by 6.9% during the first quarter. Victory Capital Management Inc. now owns 32,575 shares of the conglomerate's stock valued at $2,329,000 after buying an additional 2,094 shares during the last quarter. Institutional investors own 73.22% of the company's stock.

Griffon Trading Up 4.5%

NYSE:GFF traded up $3.50 during trading hours on Tuesday, reaching $81.45. 298,718 shares of the stock were exchanged, compared to its average volume of 408,586. The company has a quick ratio of 1.48, a current ratio of 2.78 and a debt-to-equity ratio of 7.12. The business has a 50-day moving average of $72.15 and a two-hundred day moving average of $72.19. Griffon Corporation has a twelve month low of $55.01 and a twelve month high of $86.73. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.84 and a beta of 1.14.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 earnings per share 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 analyst estimates of $618.23 million. Griffon had a return on equity of 114.46% and a net margin of 9.06%. The company's revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 earnings per share. On average, equities analysts predict that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Friday, May 30th. Griffon's payout ratio is 14.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GFF shares. Raymond James Financial restated a "strong-buy" rating and issued a $100.00 target price (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Robert W. Baird lifted their price objective on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday. Wall Street Zen upgraded Griffon from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price target for the company. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Strong Buy" and an average 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.