Nebula Research & Development LLC Reduces Position in Griffon Co. (NYSE:GFF)

Nebula Research & Development LLC decreased its position in Griffon Co. (NYSE:GFF - Free Report) by 50.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,443 shares of the conglomerate's stock after selling 9,553 shares during the period. Nebula Research & Development LLC's holdings in Griffon were worth $673,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new position in shares of Griffon in the 4th quarter worth approximately $30,000. Grove Bank & Trust purchased a new stake in Griffon during the fourth quarter worth approximately $33,000. R Squared Ltd acquired a new position in shares of Griffon in the 4th quarter valued at $37,000. Headlands Technologies LLC acquired a new position in Griffon in the fourth quarter valued at $64,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Griffon by 343.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock valued at $78,000 after purchasing an additional 845 shares during the period. Hedge funds and other institutional investors own 73.22% of the company's stock.

Griffon Stock Performance

Griffon stock opened at $67.24 on Tuesday. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.34. Griffon Co. has a 12 month low of $55.01 and a 12 month high of $86.73. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 13.72 and a beta of 1.26. The stock's 50-day moving average is $70.10 and its 200-day moving average is $72.87.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, topping 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 analysts anticipate that Griffon Co. will post 5.55 earnings per share for the current year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, February 25th were paid a $0.18 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. Griffon's dividend payout ratio (DPR) is presently 14.69%.

Analysts Set New Price Targets

GFF has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Griffon in a research note on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price objective on the stock. Loop Capital upgraded Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Stephens increased 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. Raymond James reissued a "strong-buy" rating and issued a $95.00 target price (up previously from $92.00) on shares of Griffon in a research note on Thursday, February 6th. Finally, StockNews.com downgraded Griffon from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $97.20.

Insider Buying and Selling at Griffon

In other news, Director Cheryl L. Turnbull sold 3,000 shares of Griffon stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.80, for a total value of $242,400.00. Following the completion of the transaction, the director now directly owns 30,730 shares of the company's stock, valued at approximately $2,482,984. The trade was a 8.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.20% of the stock is currently owned by insiders.

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.

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