Advisory Services Network LLC Makes New Investment in Griffon Co. (NYSE:GFF)

Advisory Services Network LLC purchased a new position in Griffon Co. (NYSE:GFFFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,890 shares of the conglomerate’s stock, valued at approximately $786,000.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of Griffon in the 4th quarter worth approximately $30,000. Parkside Financial Bank & Trust boosted its position in shares of Griffon by 671.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 640 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 557 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Griffon by 11.2% during the fourth quarter. Russell Investments Group Ltd. now owns 3,336 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 336 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Griffon during the fourth quarter valued at approximately $214,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Griffon during the fourth quarter valued at approximately $229,000. 73.22% of the stock is owned by hedge funds and other institutional investors.

Griffon Stock Performance

NYSE:GFF opened at $67.52 on Friday. The firm has a market capitalization of $3.35 billion, a PE ratio of 17.82 and a beta of 1.43. The company has a debt-to-equity ratio of 7.80, a quick ratio of 1.56 and a current ratio of 2.78. The stock has a 50-day simple moving average of $68.99 and a two-hundred day simple moving average of $63.15. Griffon Co. has a 52-week low of $31.27 and a 52-week high of $77.99.

Griffon (NYSE:GFFGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.51. Griffon had a return on equity of 90.02% and a net margin of 7.48%. The company had revenue of $672.88 million during the quarter, compared to analyst estimates of $625.22 million. During the same period in the prior year, the company earned $1.21 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Analysts forecast that Griffon Co. will post 4.8 EPS for the current year.

Griffon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. Griffon’s payout ratio is 15.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GFF shares. Robert W. Baird lifted their price target on Griffon from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. StockNews.com raised Griffon from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. Finally, Raymond James boosted their target price on Griffon from $60.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Monday, February 5th. Two investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy” and an average price target of $81.00.

Read Our Latest Stock Analysis on Griffon

Griffon Company Profile

(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.

Read More

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.