D.A. Davidson & CO. Has $550,000 Holdings in Griffon Corporation $GFF

D.A. Davidson & CO. reduced its position in Griffon Corporation (NYSE:GFF) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,603 shares of the conglomerate’s stock after selling 835 shares during the period. D.A. Davidson & CO.’s holdings in Griffon were worth $550,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GFF. GAMMA Investing LLC increased its position in Griffon by 153.1% in the 1st quarter. GAMMA Investing LLC now owns 2,718 shares of the conglomerate’s stock worth $194,000 after purchasing an additional 1,644 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Griffon by 19.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,346 shares of the conglomerate’s stock worth $311,000 after purchasing an additional 715 shares during the last quarter. Meritage Portfolio Management acquired a new position in Griffon in the 1st quarter worth about $5,010,000. Principal Financial Group Inc. increased its position in Griffon by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 234,035 shares of the conglomerate’s stock worth $16,734,000 after purchasing an additional 5,243 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in Griffon by 4.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 12,026 shares of the conglomerate’s stock worth $860,000 after purchasing an additional 559 shares during the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GFF shares. Robert W. Baird upped their target price on Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Zacks Research lowered Griffon from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Griffon in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Griffon currently has an average rating of “Moderate Buy” and an average target price of $98.20.

Griffon Price Performance

Shares of NYSE:GFF opened at $74.69 on Thursday. The business has a 50 day moving average price of $76.48 and a 200 day moving average price of $73.91. Griffon Corporation has a twelve month low of $62.61 and a twelve month high of $86.73. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 55.74, a PEG ratio of 1.04 and a beta of 1.11. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 22.58.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. Griffon had a return on equity of 144.21% and a net margin of 2.78%.The firm had revenue of $613.63 million during the quarter, compared to the consensus estimate of $649.95 million. During the same quarter in the prior year, the company earned $1.24 EPS. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. Research analysts predict that Griffon Corporation will post 5.55 earnings per share for the current year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, August 29th. This represents a $0.72 annualized dividend and a yield of 1.0%. Griffon’s dividend payout ratio is presently 53.73%.

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.