Renaissance Technologies LLC Acquires 9,600 Shares of Griffon Co. (NYSE:GFF)

Renaissance Technologies LLC grew its position in shares of Griffon Co. (NYSE:GFF – Get Rating) by 7.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 142,600 shares of the conglomerate’s stock after acquiring an additional 9,600 shares during the quarter. Renaissance Technologies LLC owned about 0.25% of Griffon worth $4,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its stake in 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 purchasing an additional 602 shares during the period. Captrust Financial Advisors boosted its holdings in Griffon by 64.5% in the first quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock worth $55,000 after acquiring an additional 1,080 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Griffon in the second quarter worth about $60,000. Bessemer Group Inc. acquired a new stake in Griffon in the third quarter worth about $74,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Griffon in the second quarter worth about $80,000. 74.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Griffon Stock Performance

NYSE GFF opened at $33.70 on Monday. Griffon Co. has a fifty-two week low of $17.56 and a fifty-two week high of $43.74. The stock’s fifty day moving average is $38.44 and its two-hundred day moving average is $34.84. The firm has a market capitalization of $1.93 billion, a P/E ratio of -10.24 and a beta of 1.57. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.37 and a current ratio of 3.03.

Griffon (NYSE:GFF – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The conglomerate reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Griffon had a positive return on equity of 35.32% and a negative net margin of 5.58%. The firm had revenue of $649.40 million for the quarter, compared to the consensus estimate of $698.14 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that Griffon Co. will post 3.52 earnings per share for the current year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, February 23rd will be given 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 payout ratio is -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.