Wells Fargo & Company MN grew its position in shares of Griffon Co. (NYSE:GFF - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,704 shares of the conglomerate's stock after buying an additional 4,251 shares during the quarter. Wells Fargo & Company MN owned 0.13% of Griffon worth $4,255,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Integrated Quantitative Investments LLC purchased a new stake in Griffon in the fourth quarter worth $1,376,000. ExodusPoint Capital Management LP bought a new position in shares of Griffon during the 4th quarter worth $1,587,000. Bryce Point Capital LLC purchased a new stake in Griffon in the 4th quarter worth about $1,648,000. Trexquant Investment LP raised its stake in Griffon by 29.0% in the 4th quarter. Trexquant Investment LP now owns 144,494 shares of the conglomerate's stock valued at $10,298,000 after acquiring an additional 32,497 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Griffon during the fourth quarter valued at about $64,000. Hedge funds and other institutional investors own 73.22% of the company's stock.
Griffon Price Performance
NYSE GFF traded up $0.15 during trading on Friday, reaching $67.32. The company's stock had a trading volume of 539,761 shares, compared to its average volume of 443,502. The firm has a fifty day moving average of $70.29 and a 200 day moving average of $72.80. Griffon Co. has a one year low of $55.01 and a one year high of $86.73. The stock has a market capitalization of $3.24 billion, a PE ratio of 13.74 and a beta of 1.26. The company has a debt-to-equity ratio of 6.44, a current ratio of 2.51 and a quick ratio of 1.34.
Griffon (NYSE:GFF - Get Free Report) last announced its earnings results on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.11. Griffon had a net margin of 9.13% and a return on equity of 120.61%. Analysts expect that Griffon Co. will post 5.55 EPS for the current fiscal year.
Griffon Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, February 25th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.72 annualized dividend and a yield of 1.07%. Griffon's dividend payout ratio (DPR) is presently 14.69%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on GFF shares. StockNews.com lowered shares of Griffon from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Raymond James reissued a "strong-buy" rating and set a $95.00 target price (up previously from $92.00) on shares of Griffon in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Griffon in a report on Tuesday, April 1st. They issued a "buy" rating and a $91.00 price target for the company. Loop Capital upgraded Griffon to a "strong-buy" rating in a research note on Friday, February 14th. Finally, Stephens raised their target price on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Griffon has an average rating of "Buy" and a consensus price target of $97.20.
Check Out Our Latest Stock Report on Griffon
Insider Activity at Griffon
In other Griffon news, Director Cheryl L. Turnbull sold 3,000 shares of Griffon stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the transaction, the director now directly owns 30,730 shares of the company's stock, valued at approximately $2,482,984. This trade represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.20% of the stock is owned by insiders.
About Griffon
(
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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