Yousif Capital Management LLC Sells 418 Shares of Griffon Corporation (NYSE:GFF)

Yousif Capital Management LLC reduced its position in Griffon Corporation (NYSE:GFF) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,601 shares of the conglomerate’s stock after selling 418 shares during the quarter. Yousif Capital Management LLC’s holdings in Griffon were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of GFF. McIlrath & Eck LLC boosted its position in shares of Griffon by 116.1% in the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 202 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Griffon during the fourth quarter worth $30,000. Headlands Technologies LLC bought a new position in shares of Griffon during the fourth quarter worth $64,000. Smartleaf Asset Management LLC boosted its position in shares of Griffon by 343.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate’s stock worth $78,000 after acquiring an additional 845 shares during the last quarter. Finally, Vestcor Inc bought a new position in shares of Griffon during the fourth quarter worth $136,000. 73.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GFF. Deutsche Bank Aktiengesellschaft began coverage on shares of Griffon in a research report on Tuesday, April 1st. They set a “buy” rating and a $91.00 target price for the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price target (up previously from $95.00) on shares of Griffon in a research note on Friday, May 9th. Finally, Wall Street Zen raised shares of Griffon from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus target price of $98.20.

Griffon Trading Up 0.4%

Shares of GFF opened at $67.61 on Thursday. Griffon Corporation has a twelve month low of $55.01 and a twelve month high of $86.73. The company has a market cap of $3.18 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.74 and a beta of 1.15. The company has a current ratio of 2.78, a quick ratio of 1.48 and a debt-to-equity ratio of 7.12. The company’s fifty day simple moving average is $69.28 and its 200-day simple moving average is $72.42.

Griffon (NYSE:GFF) last announced its earnings results on Thursday, May 8th. The conglomerate reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.10. Griffon had a net margin of 9.06% and a return on equity of 114.46%. The business had revenue of $611.75 million for the quarter, compared to the consensus estimate of $618.23 million. During the same quarter in the prior year, the firm posted $1.35 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts expect that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Friday, May 30th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, May 30th. Griffon’s dividend payout ratio is presently 14.91%.

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.