Griffon Co. (NYSE:GFF) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its stake in Griffon Co. (NYSE:GFF - Free Report) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 674,520 shares of the conglomerate's stock after purchasing an additional 159,557 shares during the period. Millennium Management LLC owned 1.42% of Griffon worth $48,073,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Arcadia Investment Management Corp MI lifted its holdings in shares of Griffon by 35.1% during the fourth quarter. Arcadia Investment Management Corp MI now owns 23,551 shares of the conglomerate's stock valued at $1,678,000 after purchasing an additional 6,125 shares during the last quarter. Norges Bank purchased a new position in shares of Griffon in the fourth quarter worth approximately $21,451,000. Charles Schwab Investment Management Inc. raised its stake in shares of Griffon by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,200 shares of the conglomerate's stock worth $38,358,000 after buying an additional 18,274 shares during the period. Principal Financial Group Inc. increased its stake in shares of Griffon by 4.4% in the third quarter. Principal Financial Group Inc. now owns 224,679 shares of the conglomerate's stock worth $15,728,000 after purchasing an additional 9,417 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Griffon by 57.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 27,247 shares of the conglomerate's stock worth $1,942,000 after acquiring an additional 9,896 shares during the last quarter. 73.22% of the stock is owned by institutional investors.

Griffon Stock Performance

Shares of GFF traded down $2.32 during trading hours on Tuesday, hitting $70.69. The stock had a trading volume of 387,374 shares, compared to its average volume of 440,624. The firm has a 50-day moving average price of $70.07 and a 200 day moving average price of $73.44. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 14.43 and a beta of 1.17. Griffon Co. has a fifty-two week low of $55.01 and a fifty-two week high of $86.73. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51.

Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 EPS for the quarter, topping the consensus estimate of $1.13 by $0.10. Griffon had a return on equity of 120.61% and a net margin of 9.13%. The company had revenue of $611.75 million during the quarter, compared to analyst estimates of $618.23 million. During the same period in the previous year, the business earned $1.35 EPS. Griffon's quarterly revenue was down 9.1% on a year-over-year basis. As a group, research analysts anticipate that Griffon Co. will post 5.55 EPS for the current year.

Griffon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.02%. Griffon's dividend payout ratio is currently 14.91%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GFF. StockNews.com raised Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Stephens upped their price objective on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Loop Capital raised shares of Griffon to a "strong-buy" rating in a report on Friday, February 14th. Raymond James reaffirmed a "strong-buy" rating and issued a $100.00 price objective (up from $95.00) on shares of Griffon in a research note on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Griffon in a research report on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price objective on the stock. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Griffon has a consensus rating of "Strong Buy" and a consensus target price of $98.20.

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.