Quadrature Capital Ltd Takes Position in Griffon Co. (NYSE:GFF)

Posted by Defense World Staff on Mar 12th, 2023

Quadrature Capital Ltd purchased a new position in Griffon Co. (NYSE:GFF – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,899 shares of the conglomerate’s stock, valued at approximately $440,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its stake in shares of Griffon by 143.0% in the third quarter. Rockefeller Capital Management L.P. now owns 1,023 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 602 shares during the last quarter. Captrust Financial Advisors grew its position in Griffon by 64.5% during the 1st quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock valued at $55,000 after purchasing an additional 1,080 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Griffon during the 2nd quarter valued at about $60,000. Bessemer Group Inc. purchased a new position in Griffon in the third quarter worth about $74,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Griffon by 966.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,825 shares of the conglomerate’s stock worth $79,000 after buying an additional 2,560 shares in the last quarter. Institutional investors own 74.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded shares of Griffon from a “c” rating to a “b-” rating in a report on Wednesday, February 1st.

Griffon Stock Down 5.3 %

NYSE GFF opened at $33.70 on Friday. Griffon Co. has a one year low of $17.56 and a one year high of $43.74. The stock has a 50-day moving average of $38.44 and a 200 day moving average of $34.84. The company has a current ratio of 3.03, a quick ratio of 1.37 and a debt-to-equity ratio of 2.86.

Griffon (NYSE:GFF – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The conglomerate reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $649.40 million during the quarter, compared to analyst estimates of $698.14 million. Griffon had a negative net margin of 5.58% and a positive return on equity of 35.32%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, analysts forecast that Griffon Co. will post 3.52 EPS for the current fiscal year.

Griffon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, February 23rd will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.19%. Griffon’s dividend payout ratio is presently -12.16%.

Griffon Company Profile

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Griffon Corp. is a diversified management and holding company, which conducts business through its subsidiaries. It provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities. It operates through the Consumer and Professional Products and Home and Building Products segments.