Griffon (NYSE:GFF) Hits New 52-Week High at $74.67

Griffon Co. (NYSE:GFF - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $74.67 and last traded at $74.26, with a volume of 16662 shares changing hands. The stock had previously closed at $73.24.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James boosted their target price on Griffon from $60.00 to $75.00 and gave the company a "strong-buy" rating in a research report on Monday, February 5th. StockNews.com cut Griffon from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Griffon from $72.00 to $82.00 and gave the company a "buy" rating in a report on Monday, January 22nd.

Griffon Stock Down 1.2 %

The firm has a market capitalization of $3.69 billion, a PE ratio of 54.00, a PEG ratio of 0.78 and a beta of 1.41. The company has a fifty day simple moving average of $68.32 and a two-hundred day simple moving average of $55.19. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46.

Griffon (NYSE:GFF - Get Free Report) last issued its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.29. The business had revenue of $643.20 million during the quarter, compared to analysts' expectations of $595.87 million. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 EPS. Analysts forecast that Griffon Co. will post 4.58 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Wednesday, February 28th. Griffon's payout ratio is 44.78%.

Insider Transactions at Griffon

In other news, Director James W. Sight sold 2,000 shares of the business's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $67.38, for a total value of $134,760.00. Following the completion of the transaction, the director now directly owns 18,843 shares of the company's stock, valued at approximately $1,269,641.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in Griffon during the 4th quarter valued at about $30,000. Scarborough Advisors LLC acquired a new position in Griffon during the 4th quarter valued at about $35,000. Quarry LP increased its position in Griffon by 931.0% during the 1st quarter. Quarry LP now owns 1,165 shares of the conglomerate's stock valued at $37,000 after buying an additional 1,052 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Griffon by 671.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate's stock valued at $39,000 after buying an additional 557 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Griffon by 64.5% during the 1st quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate's stock valued at $55,000 after buying an additional 1,080 shares in the last quarter. 73.22% of the stock is owned by institutional investors.

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.