LSV Asset Management increased its stake in shares of Griffon Corporation (NYSE:GFF – Free Report) by 10.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 867,195 shares of the conglomerate’s stock after buying an additional 79,000 shares during the period. LSV Asset Management owned 1.86% of Griffon worth $63,869,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Millennium Management LLC raised its stake in Griffon by 166.4% in the 3rd quarter. Millennium Management LLC now owns 324,553 shares of the conglomerate’s stock worth $24,715,000 after purchasing an additional 202,714 shares in the last quarter. Bessemer Group Inc. raised its stake in Griffon by 123,307.7% in the 3rd quarter. Bessemer Group Inc. now owns 191,282 shares of the conglomerate’s stock worth $14,565,000 after purchasing an additional 191,127 shares in the last quarter. Voss Capital LP raised its stake in Griffon by 13.7% in the 3rd quarter. Voss Capital LP now owns 1,535,000 shares of the conglomerate’s stock worth $116,890,000 after purchasing an additional 185,000 shares in the last quarter. Lodge Hill Capital LLC acquired a new stake in Griffon in the 3rd quarter worth about $11,042,000. Finally, Segall Bryant & Hamill LLC raised its stake in Griffon by 45.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 430,209 shares of the conglomerate’s stock worth $32,760,000 after purchasing an additional 134,987 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Stephens lifted their price objective on shares of Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Robert W. Baird set a $115.00 price objective on shares of Griffon in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.00.
Griffon Price Performance
Shares of NYSE:GFF opened at $84.95 on Friday. The firm has a 50 day moving average of $80.58 and a 200-day moving average of $79.71. The stock has a market capitalization of $3.90 billion, a PE ratio of 653.53, a PEG ratio of 1.42 and a beta of 1.46. 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.
Griffon (NYSE:GFF – Get Free Report) last issued its earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $421.86 million during the quarter, compared to analysts’ expectations of $414.63 million. Griffon had a net margin of 0.31% and a return on equity of 298.42%. The business’s revenue for the quarter was down 31.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. On average, equities research analysts predict that Griffon Corporation will post 5.17 EPS for the current fiscal year.
Griffon Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th will be given a $0.22 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Griffon’s payout ratio is presently 676.92%.
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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