Rock Creek Group LP Buys 90,000 Shares of Griffon Corporation $GFF

Rock Creek Group LP grew its stake in Griffon Corporation (NYSE:GFFFree Report) by 257.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,000 shares of the conglomerate’s stock after purchasing an additional 90,000 shares during the quarter. Griffon makes up about 1.0% of Rock Creek Group LP’s holdings, making the stock its 18th largest position. Rock Creek Group LP owned approximately 0.27% of Griffon worth $9,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its holdings in shares of Griffon by 149.6% in the fourth quarter. Hantz Financial Services Inc. now owns 352 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 211 shares in the last quarter. Huntington National Bank increased its position in shares of Griffon by 645.0% during the third 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 last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Griffon during the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC increased its position in shares of Griffon by 33.0% during the second 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Griffon by 30.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 585 shares of the conglomerate’s stock valued at $43,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 73.22% of the company’s stock.

Griffon Stock Performance

NYSE:GFF opened at $88.29 on Friday. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. The business has a fifty day simple moving average of $82.14 and a two-hundred day simple moving average of $80.20. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $97.58. The company has a market capitalization of $4.05 billion, a P/E ratio of 679.18, a P/E/G ratio of 1.47 and a beta of 1.46.

Griffon (NYSE:GFFGet Free Report) last released its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. During the same period last year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was down 31.0% on a year-over-year basis. On average, analysts expect that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Griffon’s dividend payout ratio (DPR) is currently 676.92%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Robert W. Baird set a $115.00 price target on Griffon in a research report on Friday, May 8th. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Stephens increased their price target 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 raised Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Read Our Latest Analysis on Griffon

Griffon Profile

(Free Report)

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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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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