Griffon Target of Unusually High Options Trading (NYSE:GFF)

Griffon Co. (NYSE:GFFGet Rating) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 9,771 call options on the company. This is an increase of approximately 1,961% compared to the average daily volume of 474 call options.

Griffon Price Performance

Shares of GFF stock opened at $31.96 on Thursday. Griffon has a twelve month low of $17.56 and a twelve month high of $34.35. The business’s fifty day moving average is $30.03 and its 200 day moving average is $26.22. The company has a quick ratio of 1.07, a current ratio of 2.26 and a debt-to-equity ratio of 1.74. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 7.12 and a beta of 1.63.

Griffon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 18th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, August 17th. Griffon’s dividend payout ratio is currently 8.02%.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their price target on Griffon from $40.00 to $44.00 in a research report on Tuesday, May 17th.

Institutional Investors Weigh In On Griffon

A number of institutional investors have recently modified their holdings of GFF. Captrust Financial Advisors lifted its holdings in Griffon by 33.0% during the 2nd quarter. Captrust Financial Advisors now owns 3,662 shares of the conglomerate’s stock valued at $103,000 after purchasing an additional 908 shares during the last quarter. Legal & General Group Plc grew its position in shares of Griffon by 3.7% during the second quarter. Legal & General Group Plc now owns 139,115 shares of the conglomerate’s stock worth $3,899,000 after purchasing an additional 4,929 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Griffon during the 2nd quarter worth $1,698,000. Walleye Capital LLC purchased a new stake in shares of Griffon in the second quarter valued at approximately $296,000. Finally, Jane Street Group LLC purchased a new position in shares of Griffon during the second quarter worth about $1,125,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

About Griffon

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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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