Fox Run Management L.L.C. Buys Shares of 15,684 Griffon Corporation $GFF

Fox Run Management L.L.C. purchased a new position in Griffon Corporation (NYSE:GFF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,684 shares of the conglomerate’s stock, valued at approximately $1,135,000.

Several other large investors also recently modified their holdings of GFF. Jefferies Financial Group Inc. bought a new position in shares of Griffon in the 1st quarter worth about $53,994,000. Fuller & Thaler Asset Management Inc. increased its holdings in Griffon by 52.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 951,120 shares of the conglomerate’s stock worth $68,005,000 after purchasing an additional 326,663 shares in the last quarter. Nuveen LLC acquired a new position in Griffon in the first quarter valued at approximately $22,108,000. Voss Capital LP boosted its holdings in shares of Griffon by 10.5% during the 1st quarter. Voss Capital LP now owns 1,332,051 shares of the conglomerate’s stock worth $95,242,000 after buying an additional 127,051 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in shares of Griffon by 43.4% during the 1st quarter. Aberdeen Group plc now owns 259,238 shares of the conglomerate’s stock worth $18,536,000 after buying an additional 78,460 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on GFF. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Griffon in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on Griffon from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $98.20.

Griffon Trading Up 1.0%

Shares of GFF stock opened at $71.97 on Friday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 53.71, a PEG ratio of 1.02 and a beta of 1.14. The company’s fifty day simple moving average is $76.10 and its two-hundred day simple moving average is $74.18. Griffon Corporation has a 1 year low of $63.92 and a 1 year high of $86.73. The company has a debt-to-equity ratio of 22.58, a current ratio of 2.70 and a quick ratio of 1.38.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. The firm had revenue of $613.63 million for the quarter, compared to analysts’ expectations of $649.95 million. Griffon had a return on equity of 144.21% and a net margin of 2.78%.The company’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. As a group, analysts anticipate that Griffon Corporation will post 5.55 earnings per share for the current year.

About Griffon

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.