Cerity Partners LLC bought a new position in shares of Griffon Co. (NYSE:GFF – Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 399 shares of the conglomerate’s stock, valued at approximately $478,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its holdings in shares of Griffon by 64.5% in the first 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 in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Griffon in the second quarter valued at about $80,000. UBS Group AG lifted its holdings in shares of Griffon by 116.6% in the third quarter. UBS Group AG now owns 3,373 shares of the conglomerate’s stock valued at $99,000 after purchasing an additional 1,816 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Griffon by 2,148.9% in the first quarter. Tower Research Capital LLC TRC now owns 4,093 shares of the conglomerate’s stock valued at $132,000 after purchasing an additional 3,911 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Griffon in the fourth quarter valued at about $224,000. 73.88% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com assumed coverage on Griffon in a report on Thursday, August 17th. They issued a “strong-buy” rating on the stock.
Griffon Price Performance
NYSE:GFF opened at $40.63 on Thursday. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.51 and a current ratio of 2.96. The stock’s 50-day simple moving average is $41.41 and its 200 day simple moving average is $35.91. The company has a market cap of $2.22 billion, a P/E ratio of -5.50 and a beta of 1.59. Griffon Co. has a 52-week low of $25.97 and a 52-week high of $43.90.
Griffon (NYSE:GFF – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The conglomerate reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.30. The firm had revenue of $683.40 million for the quarter, compared to the consensus estimate of $703.86 million. Griffon had a positive return on equity of 54.04% and a negative net margin of 13.85%. The business’s revenue was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 earnings per share. As a group, sell-side analysts forecast that Griffon Co. will post 4.14 EPS for the current fiscal year.
Griffon Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, August 22nd. Griffon’s dividend payout ratio (DPR) is presently -6.77%.
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. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools, as well as cleaning products for professional, home, and industrial use.
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