Allspring Global Investments Holdings LLC Has $66.58 Million Stock Holdings in Griffon Co. (NYSE:GFF)

Allspring Global Investments Holdings LLC cut its holdings in shares of Griffon Co. (NYSE:GFF - Free Report) by 26.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,092,314 shares of the conglomerate's stock after selling 383,265 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.09% of Griffon worth $66,577,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Quarry LP increased its position in Griffon by 931.0% during the first quarter. Quarry LP now owns 1,165 shares of the conglomerate's stock worth $37,000 after purchasing an additional 1,052 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of 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 during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Griffon in the second quarter valued at $80,000. State of Wyoming lifted its position in shares of 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 purchasing an additional 758 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Griffon by 116.6% in the third quarter. UBS Group AG now owns 3,373 shares of the conglomerate's stock valued at $99,000 after purchasing an additional 1,816 shares in the last quarter. Hedge funds and other institutional investors own 73.22% of the company's stock.

Insider Activity at Griffon

In other news, Director James W. Sight sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $67.38, for a total transaction of $134,760.00. Following the transaction, the director now directly owns 18,843 shares in the company, valued at $1,269,641.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on GFF shares. Raymond James raised their price target on shares of Griffon from $60.00 to $75.00 and gave the company a "strong-buy" rating in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Griffon from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, January 22nd. Finally, StockNews.com cut Griffon from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 2nd.

Griffon Stock Up 0.9 %

Shares of GFF stock traded up $0.64 on Thursday, reaching $68.47. 257,662 shares of the stock were exchanged, compared to its average volume of 392,432. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 51.10, a PEG ratio of 0.81 and a beta of 1.41. The business's 50 day moving average price is $69.43 and its 200 day moving average price is $56.28. The company has a current ratio of 2.46, a quick ratio of 1.24 and a debt-to-equity ratio of 5.02. Griffon Co. has a twelve month low of $25.97 and a twelve month high of $75.18.

Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The conglomerate reported $1.07 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 72.80% and a net margin of 2.65%. The business's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, sell-side analysts expect that Griffon Co. will post 4.52 earnings per share for the current fiscal year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, February 28th. Griffon's dividend payout ratio (DPR) is 44.78%.

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.