Federated Hermes Inc. Sells 12,177 Shares of Griffon Co. (NYSE:GFF)

Federated Hermes Inc. trimmed its stake in Griffon Co. (NYSE:GFF - Free Report) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,038 shares of the conglomerate's stock after selling 12,177 shares during the period. Federated Hermes Inc. owned approximately 0.16% of Griffon worth $5,122,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Griffon by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,952,411 shares of the conglomerate's stock worth $236,132,000 after acquiring an additional 77,058 shares during the period. Pacer Advisors Inc. increased its holdings in Griffon by 22.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,598,353 shares of the conglomerate's stock valued at $97,420,000 after acquiring an additional 289,208 shares in the last quarter. Raymond James & Associates raised its position in Griffon by 22.6% during the fourth quarter. Raymond James & Associates now owns 529,181 shares of the conglomerate's stock worth $32,254,000 after acquiring an additional 97,390 shares during the last quarter. Primecap Management Co. CA raised its position in Griffon by 32.5% during the third quarter. Primecap Management Co. CA now owns 221,700 shares of the conglomerate's stock worth $8,795,000 after acquiring an additional 54,400 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Griffon in the third quarter valued at approximately $6,316,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on GFF. Robert W. Baird upped their price target on shares of Griffon from $82.00 to $84.00 and gave the stock an "outperform" rating in a research report on Thursday, April 18th. Raymond James upped their price target on shares of Griffon from $60.00 to $75.00 and gave the stock a "strong-buy" rating in a research report on Monday, February 5th. StockNews.com lowered shares of Griffon from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Griffon from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, January 22nd. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Griffon currently has an average rating of "Buy" and an average target price of $69.50.

Insider Buying and Selling at Griffon

In other Griffon news, Director James W. Sight sold 2,000 shares of the stock in a transaction 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 approximately $1,269,641.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.10% of the stock is currently owned by insiders.

Griffon Stock Up 1.3 %

Shares of GFF stock traded up $0.86 on Friday, hitting $68.27. The stock had a trading volume of 243,243 shares, compared to its average volume of 376,560. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 50.95 and a beta of 1.41. The stock's 50 day moving average is $69.71 and its 200-day moving average is $58.17. 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 Co. has a 52-week low of $27.45 and a 52-week high of $75.18.

Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.29. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The business had revenue of $643.20 million during the quarter, compared to the consensus estimate of $595.87 million. During the same period in the prior year, the firm earned $0.86 earnings per share. The business's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Griffon Co. will post 4.52 earnings per share for the current 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 paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. Griffon's dividend payout ratio (DPR) is 44.78%.

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.