State of Alaska Department of Revenue Has $1.71 Million Position in Griffon Co. (NYSE:GFF)

State of Alaska Department of Revenue lowered its stake in shares of Griffon Co. (NYSE:GFFFree Report) by 7.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 23,277 shares of the conglomerate’s stock after selling 1,918 shares during the period. State of Alaska Department of Revenue’s holdings in Griffon were worth $1,707,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Griffon by 1.3% during the third quarter. Vanguard Group Inc. now owns 5,952,411 shares of the conglomerate’s stock valued at $236,132,000 after buying an additional 77,058 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Griffon by 22.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,598,353 shares of the conglomerate’s stock valued at $97,420,000 after buying an additional 289,208 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Griffon by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,354,467 shares of the conglomerate’s stock valued at $82,557,000 after buying an additional 30,710 shares during the last quarter. Raymond James & Associates raised its position in shares of Griffon by 22.6% during the fourth quarter. Raymond James & Associates now owns 529,181 shares of the conglomerate’s stock valued at $32,254,000 after buying an additional 97,390 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Griffon by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,741 shares of the conglomerate’s stock valued at $31,861,000 after buying an additional 2,131 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

Insider Transactions at Griffon

In other news, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the sale, the chief executive officer now directly owns 2,500,746 shares of the company’s stock, valued at $167,725,034.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $67.07, for a total transaction of $6,707,000.00. Following the sale, the chief executive officer now directly owns 2,500,746 shares of the company’s stock, valued at $167,725,034.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO W. Christopher Durborow sold 13,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $66.88, for a total transaction of $869,440.00. Following the sale, the chief accounting officer now directly owns 48,368 shares in the company, valued at $3,234,851.84. The disclosure for this sale can be found here. Company insiders own 16.10% of the company’s stock.

Analyst Ratings Changes

GFF has been the subject of several recent research reports. Robert W. Baird increased their price target on shares of Griffon from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. StockNews.com raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Griffon currently has a consensus rating of “Strong Buy” and a consensus target price of $81.00.

Read Our Latest Stock Analysis on GFF

Griffon Stock Performance

NYSE GFF opened at $62.45 on Monday. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 16.48 and a beta of 1.29. The company has a 50 day moving average of $66.71 and a 200-day moving average of $66.07. The company has a current ratio of 2.78, a quick ratio of 1.56 and a debt-to-equity ratio of 7.80. Griffon Co. has a 1-year low of $38.33 and a 1-year high of $77.99.

Griffon (NYSE:GFFGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The conglomerate reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.51. The company had revenue of $672.88 million during the quarter, compared to analyst estimates of $625.22 million. Griffon had a net margin of 7.48% and a return on equity of 90.02%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share. On average, equities analysts forecast that Griffon Co. will post 5 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Wednesday, May 29th. Griffon’s payout ratio is 15.83%.

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.

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Institutional Ownership by Quarter for Griffon (NYSE:GFF)

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