Thrivent Financial for Lutherans increased its holdings in shares of Griffon Corporation (NYSE:GFF – Free Report) by 45.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 113,879 shares of the conglomerate’s stock after acquiring an additional 35,593 shares during the period. Thrivent Financial for Lutherans owned approximately 0.24% of Griffon worth $8,388,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Huntington National Bank grew its position in shares of Griffon by 645.0% during the 3rd quarter. Huntington National Bank now owns 447 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 387 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of Griffon during the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its position in shares of Griffon by 33.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 142 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Griffon during the 1st quarter valued at about $49,000. Finally, Spire Wealth Management acquired a new stake in shares of Griffon during the 4th quarter valued at about $52,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.
Griffon Trading Down 3.8%
GFF stock opened at $79.71 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. Griffon Corporation has a 12-month low of $65.01 and a 12-month high of $97.58. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 613.18, a PEG ratio of 1.38 and a beta of 1.46. The business’s 50-day moving average is $80.05 and its 200 day moving average is $79.53.
Griffon Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Griffon’s dividend payout ratio (DPR) is 676.92%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Wall Street Zen cut Griffon from a “buy” rating to a “hold” rating in a research report on Saturday. Stephens raised their target price on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $115.00 price objective on Griffon in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Griffon has an average rating of “Moderate Buy” and an average price target of $115.00.
View Our Latest Stock Report on Griffon
Griffon Company Profile
Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.
In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.
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