Schonfeld Strategic Advisors LLC trimmed its holdings in shares of Griffon Co. (NYSE:GFF - Free Report) by 33.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,000 shares of the conglomerate's stock after selling 6,522 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Griffon were worth $927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in GFF. Vanguard Group Inc. lifted its position in Griffon by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,375,843 shares of the conglomerate's stock worth $454,406,000 after acquiring an additional 177,771 shares during the period. Invesco Ltd. boosted its holdings in Griffon by 36.0% during the fourth quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate's stock worth $63,582,000 after buying an additional 236,179 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Griffon by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 700,351 shares of the conglomerate's stock valued at $49,914,000 after buying an additional 93,100 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Griffon by 95,382.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate's stock worth $44,505,000 after acquiring an additional 623,803 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Griffon during the 4th quarter worth about $43,325,000. 73.22% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on GFF. Stephens lifted their price target on shares of Griffon from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Loop Capital raised shares of Griffon to a "strong-buy" rating in a research note on Friday, February 14th. StockNews.com upgraded Griffon from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Raymond James restated a "strong-buy" rating and issued a $100.00 price target (up from $95.00) on shares of Griffon in a research report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Griffon in a research report on Tuesday, April 1st. They set a "buy" rating and a $91.00 price objective on the stock. Three analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Strong Buy" and a consensus target price of $98.20.
Check Out Our Latest Stock Analysis on Griffon
Griffon Trading Down 0.1%
GFF traded down $0.10 during mid-day trading on Wednesday, hitting $73.42. 93,093 shares of the stock were exchanged, compared to its average volume of 402,104. Griffon Co. has a 1-year low of $55.01 and a 1-year high of $86.73. The firm's fifty day moving average is $69.80 and its two-hundred day moving average is $73.11. The company has a market cap of $3.53 billion, a PE ratio of 14.98 and a beta of 1.17. The company has a current ratio of 2.51, a quick ratio of 1.34 and a debt-to-equity ratio of 6.44.
Griffon (NYSE:GFF - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The conglomerate reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.10. Griffon had a return on equity of 120.61% and a net margin of 9.13%. The business had revenue of $611.75 million for the quarter, compared to analyst estimates of $618.23 million. During the same quarter in the prior year, the company earned $1.35 earnings per share. The company's revenue was down 9.1% on a year-over-year basis. Equities analysts forecast that Griffon Co. will post 5.55 earnings per share for the current fiscal year.
Griffon Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Friday, May 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 0.98%. Griffon's dividend payout ratio is currently 14.91%.
Griffon 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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