Vanguard Group Inc. Has $236.13 Million Position in Griffon Co. (NYSE:GFF)

Vanguard Group Inc. raised its holdings in shares of Griffon Co. (NYSE:GFFFree Report) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,952,411 shares of the conglomerate’s stock after purchasing an additional 77,058 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Griffon worth $236,132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. grew its stake in Griffon by 10.1% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 32,801 shares of the conglomerate’s stock valued at $1,301,000 after buying an additional 3,000 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Griffon by 32.5% in the third quarter. Primecap Management Co. CA now owns 221,700 shares of the conglomerate’s stock valued at $8,795,000 after purchasing an additional 54,400 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Griffon during the third quarter worth approximately $842,000. Raymond James & Associates lifted its holdings in Griffon by 5.6% during the 3rd quarter. Raymond James & Associates now owns 431,791 shares of the conglomerate’s stock worth $17,129,000 after purchasing an additional 23,060 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Griffon in the 3rd quarter valued at $856,000. 73.22% of the stock is owned by institutional investors.

Griffon Price Performance

GFF stock opened at $73.34 on Friday. The company’s 50-day moving average price is $67.27 and its two-hundred day moving average price is $54.30. Griffon Co. has a 12 month low of $25.97 and a 12 month high of $74.32. The company has a quick ratio of 1.24, a current ratio of 2.46 and a debt-to-equity ratio of 5.02. The firm has a market cap of $3.74 billion, a P/E ratio of 54.73, a P/E/G ratio of 0.80 and a beta of 1.41.

Griffon (NYSE:GFFGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Griffon had a net margin of 2.65% and a return on equity of 72.80%. The business had revenue of $643.20 million for the quarter, compared to analysts’ expectations of $595.87 million. During the same period last year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts anticipate that Griffon Co. will post 4.58 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.82%. Griffon’s dividend payout ratio is currently 44.78%.

Analyst Upgrades and Downgrades

GFF has been the subject of a number of research reports. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a report on Monday, March 11th. Raymond James raised their target price on shares of Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Griffon from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd.

Check Out Our Latest Stock Analysis on Griffon

Insider Activity at Griffon

In related news, Director James W. Sight sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $67.38, for a total transaction of $134,760.00. Following the completion of the transaction, the director now directly owns 18,843 shares in the company, valued at approximately $1,269,641.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 16.10% of the stock is currently owned by insiders.

About Griffon

(Free Report)

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.

Further Reading

Want to see what other hedge funds are holding GFF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Griffon Co. (NYSE:GFFFree Report).

Institutional Ownership by Quarter for Griffon (NYSE:GFF)

Receive News & Ratings for Griffon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Griffon and related companies with MarketBeat.com's FREE daily email newsletter.