Griffon Corporation $GFF Holdings Cut by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in Griffon Corporation (NYSE:GFF) by 13.2% in the second quarter, HoldingsChannel.com reports. The fund owned 95,236 shares of the conglomerate’s stock after selling 14,459 shares during the quarter. ProShare Advisors LLC’s holdings in Griffon were worth $6,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GFF. PNC Financial Services Group Inc. grew its stake in Griffon by 118.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,420 shares of the conglomerate’s stock worth $602,000 after buying an additional 4,568 shares during the last quarter. Inspire Investing LLC lifted its stake in Griffon by 178.4% in the first quarter. Inspire Investing LLC now owns 15,628 shares of the conglomerate’s stock valued at $1,117,000 after buying an additional 10,015 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Griffon during the first quarter valued at $53,994,000. Jacobs Levy Equity Management Inc. bought a new stake in Griffon in the 1st quarter valued at about $3,828,000. Finally, Raymond James Financial Inc. boosted its stake in Griffon by 9.8% during the 1st quarter. Raymond James Financial Inc. now owns 667,692 shares of the conglomerate’s stock valued at $47,740,000 after purchasing an additional 59,797 shares during the period. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Stock Performance

Shares of NYSE GFF opened at $71.74 on Thursday. The stock’s fifty day simple moving average is $75.83 and its 200 day simple moving average is $74.29. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 1.02 and a beta of 1.14. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58. Griffon Corporation has a 52-week low of $63.92 and a 52-week high of $86.73.

Analyst Ratings Changes

GFF has been the topic of several analyst reports. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Robert W. Baird raised their target price on Griffon from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Griffon in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Griffon has an average rating of “Buy” and an average target price of $98.20.

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.