Griffon Co. (NYSE:GFF) Short Interest Up 34.9% in May

Griffon Co. (NYSE:GFFGet Rating) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 996,600 shares, an increase of 34.9% from the May 15th total of 738,900 shares. Based on an average trading volume of 488,200 shares, the short-interest ratio is currently 2.0 days. Currently, 2.1% of the shares of the company are sold short.

A number of hedge funds have recently added to or reduced their stakes in GFF. Voya Investment Management LLC grew its position in Griffon by 1.2% in the 3rd quarter. Voya Investment Management LLC now owns 30,842 shares of the conglomerate’s stock valued at $759,000 after buying an additional 354 shares during the last quarter. Comerica Bank boosted its holdings in Griffon by 1.0% during the third quarter. Comerica Bank now owns 43,138 shares of the conglomerate’s stock worth $1,143,000 after buying an additional 426 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Griffon by 0.9% during the 3rd quarter. California State Teachers Retirement System now owns 64,572 shares of the conglomerate’s stock worth $1,588,000 after acquiring an additional 547 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in Griffon by 2.0% during the fourth quarter. State of Tennessee Treasury Department now owns 29,184 shares of the conglomerate’s stock worth $831,000 after purchasing an additional 580 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Griffon by 1.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 41,660 shares of the conglomerate’s stock worth $856,000 after buying an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 84.39% of the company’s stock.

Several research firms recently commented on GFF. StockNews.com started coverage on Griffon in a report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James raised shares of Griffon from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $33.00 to $40.00 in a report on Monday, May 2nd. Finally, Robert W. Baird lifted their price objective on Griffon from $40.00 to $44.00 in a report on Tuesday, May 17th.

Shares of NYSE:GFF opened at $29.94 on Thursday. The firm has a market capitalization of $1.71 billion, a PE ratio of 13.61 and a beta of 1.68. Griffon has a 1 year low of $17.56 and a 1 year high of $33.38. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.83 and a quick ratio of 1.65. The firm’s 50-day moving average is $25.32 and its two-hundred day moving average is $24.47.

Griffon (NYSE:GFFGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The conglomerate reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.93. Griffon had a return on equity of 16.52% and a net margin of 4.54%. The business had revenue of $779.60 million during the quarter, compared to the consensus estimate of $668.92 million. During the same period in the previous year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. Analysts expect that Griffon will post 3.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, May 19th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. Griffon’s dividend payout ratio is presently 16.36%.

About Griffon (Get Rating)

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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