Wealth Dimensions Group Ltd. Buys Shares of 6,130 Griffon Corporation (NYSE:GFF)

Wealth Dimensions Group Ltd. acquired a new position in Griffon Corporation (NYSE:GFF - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,130 shares of the conglomerate's stock, valued at approximately $438,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in Griffon by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 234,035 shares of the conglomerate's stock valued at $16,734,000 after buying an additional 5,243 shares in the last quarter. Arcadia Investment Management Corp MI grew its holdings in shares of Griffon by 26.6% during the first quarter. Arcadia Investment Management Corp MI now owns 29,811 shares of the conglomerate's stock valued at $2,131,000 after buying an additional 6,260 shares during the last quarter. Meritage Portfolio Management bought a new stake in shares of Griffon during the first quarter worth about $5,010,000. Norges Bank acquired a new stake in shares of Griffon in the 4th quarter worth about $21,451,000. Finally, Kavar Capital Partners Group LLC lifted its position in Griffon by 20.5% in the 1st quarter. Kavar Capital Partners Group LLC now owns 20,829 shares of the conglomerate's stock valued at $1,489,000 after acquiring an additional 3,545 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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 on the stock. Robert W. Baird raised their target price on Griffon from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday. Wall Street Zen raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Raymond James Financial reissued 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. 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, the company presently has a consensus rating of "Strong Buy" and a consensus price target of $98.20.

Griffon Trading Down 0.4%

Shares of GFF traded down $0.33 during mid-day trading on Thursday, reaching $81.11. The company's stock had a trading volume of 91,174 shares, compared to its average volume of 374,118. Griffon Corporation has a 52 week low of $55.01 and a 52 week high of $86.73. The stock has a market cap of $3.81 billion, a PE ratio of 16.79, a P/E/G ratio of 0.89 and a beta of 1.14. The company's fifty day moving average price is $72.40 and its two-hundred day moving average price is $72.29. The company has a current ratio of 2.78, a quick ratio of 1.48 and a debt-to-equity ratio of 7.12.

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

Griffon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 0.89%. The ex-dividend date was Friday, May 30th. Griffon's payout ratio is currently 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.