Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Lowers Holdings in Griffon Corporation $GFF

by · The Cerbat Gem

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna decreased its position in Griffon Corporation (NYSE:GFF – Free Report) by 44.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,850 shares of the conglomerate’s stock after selling 7,995 shares during the quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings in Griffon were worth $725,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vise Technologies Inc. increased its stake in Griffon by 10.8% in the 4th quarter. Vise Technologies Inc. now owns 5,292 shares of the conglomerate’s stock worth $390,000 after acquiring an additional 514 shares during the last quarter. State of Wyoming increased its stake in Griffon by 2.2% in the 4th quarter. State of Wyoming now owns 8,999 shares of the conglomerate’s stock worth $663,000 after acquiring an additional 193 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Griffon by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 375,921 shares of the conglomerate’s stock worth $27,687,000 after acquiring an additional 25,206 shares during the last quarter. Natixis Advisors LLC increased its stake in Griffon by 31.0% in the 4th quarter. Natixis Advisors LLC now owns 26,686 shares of the conglomerate’s stock worth $1,965,000 after acquiring an additional 6,314 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in Griffon by 3.5% in the 4th quarter. Arcadia Investment Management Corp MI now owns 54,738 shares of the conglomerate’s stock worth $4,031,000 after acquiring an additional 1,827 shares during the last quarter. Institutional investors own 73.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Robert W. Baird set a $115.00 price objective on Griffon in a research note on Friday, May 8th. Stephens lifted their price objective on Griffon from $92.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.00.

Check Out Our Latest Analysis on GFF

Griffon Stock Performance

NYSE GFF opened at $85.53 on Friday. The company has a market cap of $3.92 billion, a P/E ratio of 657.94, a P/E/G ratio of 1.43 and a beta of 1.42. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. The business’s 50 day moving average price is $83.63 and its 200-day moving average price is $80.70. Griffon Corporation has a fifty-two week low of $65.01 and a fifty-two week high of $97.58.

Griffon (NYSE:GFF – Get Free Report) last released its earnings results on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $421.86 million for the quarter, compared to the consensus estimate of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The company’s revenue for the quarter was down 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. Sell-side analysts predict that Griffon Corporation will post 5.17 earnings per share for the current year.

Griffon Announces Dividend

The business 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Griffon’s payout ratio is currently 676.92%.

Griffon Company 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.

Further Reading

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