Federated Hermes Inc. Sells 564 Shares of Griffon Corporation (NYSE:GFF)

Federated Hermes Inc. lessened its holdings in shares of Griffon Corporation (NYSE:GFF) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,679 shares of the conglomerate’s stock after selling 564 shares during the period. Federated Hermes Inc. owned about 0.21% of Griffon worth $7,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. boosted its position in Griffon by 95,382.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 624,457 shares of the conglomerate’s stock valued at $44,505,000 after acquiring an additional 623,803 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Griffon in the 4th quarter worth approximately $43,325,000. Norges Bank purchased a new position in shares of Griffon in the 4th quarter valued at approximately $21,451,000. Invesco Ltd. boosted its position in shares of Griffon by 36.0% during the fourth quarter. Invesco Ltd. now owns 892,124 shares of the conglomerate’s stock valued at $63,582,000 after purchasing an additional 236,179 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Griffon by 17,994.7% during the first quarter. GAMMA Investing LLC now owns 194,337 shares of the conglomerate’s stock valued at $138,950,000 after purchasing an additional 193,263 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

Griffon Stock Down 0.7%

Shares of NYSE:GFF opened at $80.73 on Friday. 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 stock has a fifty day simple moving average of $74.16 and a two-hundred day simple moving average of $72.81. Griffon Corporation has a 12-month low of $55.01 and a 12-month high of $86.73. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.88 and a beta of 1.09.

Griffon (NYSE:GFF) last issued its quarterly 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. The firm had revenue of $611.75 million during the quarter, compared to the consensus estimate of $618.23 million. Griffon had a return on equity of 114.46% and a net margin of 9.06%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the company earned $1.35 earnings per share. On average, research analysts anticipate that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.

Griffon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Friday, May 30th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, May 30th. Griffon’s dividend payout ratio is currently 14.91%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GFF shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 price objective (up previously from $95.00) on shares of Griffon in a report on Friday, May 9th. Robert W. Baird upped their target price on shares of Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of Griffon from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 9th. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and an average price target of $98.20.

Griffon 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.