New York State Teachers Retirement System Has $4.41 Million Holdings in Griffon Co. (NYSE:GFF)

New York State Teachers Retirement System cut its holdings in shares of Griffon Co. (NYSE:GFF) by 10.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 72,363 shares of the conglomerate’s stock after selling 8,102 shares during the quarter. New York State Teachers Retirement System’s holdings in Griffon were worth $4,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Quarry LP increased its position in shares of Griffon by 931.0% during the first quarter. Quarry LP now owns 1,165 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 1,052 shares during the period. Captrust Financial Advisors increased its position in shares of Griffon by 64.5% during the first quarter. Captrust Financial Advisors now owns 2,754 shares of the conglomerate’s stock valued at $55,000 after purchasing an additional 1,080 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Griffon during the second quarter valued at approximately $80,000. State of Wyoming increased its position in shares of Griffon by 49.5% during the second quarter. State of Wyoming now owns 2,290 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 758 shares during the period. Finally, UBS Group AG increased its position in shares of Griffon by 116.6% during the third quarter. UBS Group AG now owns 3,373 shares of the conglomerate’s stock valued at $99,000 after purchasing an additional 1,816 shares during the period. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Griffon Price Performance

Shares of GFF stock opened at $67.59 on Monday. The stock’s fifty day moving average is $69.59 and its 200-day moving average is $56.71. The company has a debt-to-equity ratio of 5.02, a quick ratio of 1.24 and a current ratio of 2.46. The stock has a market capitalization of $3.44 billion, a PE ratio of 50.44, a PEG ratio of 0.75 and a beta of 1.41. Griffon Co. has a 52 week low of $25.97 and a 52 week high of $75.18.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, February 7th. The conglomerate reported $1.07 EPS for the quarter, topping the consensus estimate of $0.78 by $0.29. The company had revenue of $643.20 million for the quarter, compared to analysts’ expectations of $595.87 million. Griffon had a return on equity of 72.80% and a net margin of 2.65%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Equities research analysts expect that Griffon Co. will post 4.52 EPS for the current fiscal year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, February 28th. Griffon’s payout ratio is presently 44.78%.

Insider Transactions at Griffon

In other news, Director James W. Sight sold 2,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $67.38, for a total transaction of $134,760.00. Following the transaction, the director now owns 18,843 shares of the company’s stock, valued at $1,269,641.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Griffon from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Raymond James upped their price target on Griffon from $60.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Monday, February 5th. Finally, StockNews.com cut Griffon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 2nd.

Griffon Company Profile

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.