Griffon Co. (NYSE:GFF) Shares Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC grew its stake in shares of Griffon Co. (NYSE:GFF - Free Report) by 50.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,985 shares of the conglomerate's stock after acquiring an additional 39,355 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.25% of Griffon worth $8,409,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GFF. New Age Alpha Advisors LLC acquired a new position in Griffon during the fourth quarter worth approximately $30,000. Grove Bank & Trust acquired a new stake in shares of Griffon during the 4th quarter worth $33,000. R Squared Ltd purchased a new position in shares of Griffon in the 4th quarter worth $37,000. Headlands Technologies LLC acquired a new position in Griffon in the fourth quarter valued at $64,000. Finally, Smartleaf Asset Management LLC grew its position in Griffon by 343.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock valued at $78,000 after acquiring an additional 845 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Griffon Price Performance

Shares of GFF stock opened at $67.75 on Thursday. Griffon Co. has a twelve month low of $55.01 and a twelve month high of $86.73. The company has a market capitalization of $3.26 billion, a PE ratio of 13.83 and a beta of 1.17. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44. The firm has a fifty day simple moving average of $69.62 and a 200-day simple moving average of $72.85.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. Equities research analysts anticipate that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GFF. Raymond James reaffirmed a "strong-buy" rating and issued a $95.00 price objective (up from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Stephens lifted their price target on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Loop Capital raised shares of Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Griffon in a report on Tuesday, April 1st. They set a "buy" rating and a $91.00 target price on the stock. Finally, StockNews.com downgraded Griffon from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $97.20.

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.

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