Griffon (NYSE:GFF) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Griffon's stock experienced unusual trading volume with 249,270 shares exchanged, a decrease of 17% from the previous session.
• Analysts have set a consensus target price of $98.20, with multiple upgrades and ratings indicating a general belief in a strong performance for the stock.
• The company reported earnings of $1.23 per share for the last quarter, exceeding expectations and showcasing a solid net margin of 9.06% despite a revenue decline compared to the previous year.

Griffon Corporation (NYSE:GFF - Get Free Report) shares saw strong trading volume on Tuesday . 249,270 shares changed hands during trading, a decline of 17% from the previous session's volume of 301,676 shares.The stock last traded at $81.94 and had previously closed at $80.77.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $100.00 price target (up from $95.00) on shares of Griffon in a research report on Friday, May 9th. Robert W. Baird upped their price target on Griffon from $92.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen raised Griffon from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Griffon has a consensus rating of "Strong Buy" and a consensus target price of $98.20.

Griffon Stock Down 0.0%

The stock has a market capitalization of $3.83 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09. The company has a debt-to-equity ratio of 7.12, a current ratio of 2.78 and a quick ratio of 1.48. The business's fifty day moving average price is $74.44 and its two-hundred day moving average price is $72.82.

Griffon (NYSE:GFF - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.10. Griffon had a net margin of 9.06% and a return on equity of 114.46%. The firm had revenue of $611.75 million for the quarter, compared to analyst estimates of $618.23 million. During the same period in the previous year, the company earned $1.35 earnings per share. The business's quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Friday, May 30th were given a $0.18 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Griffon's dividend payout ratio is 14.91%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GFF. American Century Companies Inc. raised its position in shares of Griffon by 83.2% in the fourth quarter. American Century Companies Inc. now owns 41,750 shares of the conglomerate's stock worth $2,976,000 after acquiring an additional 18,966 shares during the period. Norges Bank acquired a new stake in Griffon in the 4th quarter valued at about $21,451,000. Pictet Asset Management Holding SA grew its stake in shares of Griffon by 4.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,977 shares of the conglomerate's stock valued at $355,000 after buying an additional 198 shares during the period. Orion Portfolio Solutions LLC purchased a new position in Griffon in the fourth quarter worth approximately $214,000. Finally, National Bank of Canada FI grew its position in Griffon by 4.5% in the fourth quarter. National Bank of Canada FI now owns 17,032 shares of the conglomerate's stock worth $1,214,000 after acquiring an additional 731 shares during the period. Institutional investors and hedge funds own 73.22% of the company's stock.

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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