Raymond James & Associates lifted its holdings in Griffon Co. (NYSE:GFF - Free Report) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 529,181 shares of the conglomerate's stock after acquiring an additional 97,390 shares during the quarter. Raymond James & Associates owned 1.01% of Griffon worth $32,254,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GFF. Quarry LP increased its stake in shares of Griffon by 931.0% in the first quarter. Quarry LP now owns 1,165 shares of the conglomerate's stock worth $37,000 after acquiring an additional 1,052 shares during the period. Captrust Financial Advisors boosted its holdings in Griffon by 64.5% during the first quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate's stock worth $55,000 after buying an additional 1,080 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Griffon during the second quarter worth $80,000. State of Wyoming boosted its holdings in Griffon by 49.5% during the second quarter. State of Wyoming now owns 2,290 shares of the conglomerate's stock worth $92,000 after buying an additional 758 shares in the last quarter. Finally, UBS Group AG boosted its holdings in Griffon by 116.6% during the third quarter. UBS Group AG now owns 3,373 shares of the conglomerate's stock worth $99,000 after buying an additional 1,816 shares in the last quarter. Institutional investors and hedge funds own 73.22% of the company's stock.
Griffon Price Performance
GFF traded up $0.59 during midday trading on Friday, hitting $73.34. 291,368 shares of the company traded hands, compared to its average volume of 416,011. The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 5.02. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 54.73, a PEG ratio of 0.80 and a beta of 1.41. Griffon Co. has a 52-week low of $25.97 and a 52-week high of $74.32. The business has a 50 day simple moving average of $67.27 and a two-hundred day simple moving average of $54.40.
Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.29. The business had revenue of $643.20 million for the quarter, compared to the consensus estimate of $595.87 million. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The company's revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, equities analysts forecast that Griffon Co. will post 4.58 earnings per share for the current fiscal year.
Griffon Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.82%. The ex-dividend date was Wednesday, February 28th. Griffon's payout ratio is 44.78%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on GFF. Deutsche Bank Aktiengesellschaft increased their price target on shares of Griffon from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, January 22nd. Raymond James increased their price target on shares of Griffon from $60.00 to $75.00 and gave the stock a "strong-buy" rating in a report on Monday, February 5th. Finally, StockNews.com raised shares of Griffon from a "buy" rating to a "strong-buy" rating in a report on Monday, March 11th.
Check Out Our Latest Research Report on Griffon
Insider Transactions at Griffon
In other news, Director James W. Sight sold 2,000 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $67.38, for a total value of $134,760.00. Following the transaction, the director now directly owns 18,843 shares of the company's stock, valued at $1,269,641.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 16.10% of the company's stock.
Griffon Company Profile
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Free Report)
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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