Cwm LLC Sells 1,039 Shares of Griffon Corporation $GFF

Cwm LLC lessened its stake in Griffon Corporation (NYSE:GFF) by 52.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 961 shares of the conglomerate’s stock after selling 1,039 shares during the period. Cwm LLC’s holdings in Griffon were worth $70,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Griffon by 2.3% during the first 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 period. PNC Financial Services Group Inc. grew its holdings in shares of Griffon by 118.6% during the first quarter. PNC Financial Services Group Inc. now owns 8,420 shares of the conglomerate’s stock worth $602,000 after buying an additional 4,568 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of Griffon by 26.6% in the first quarter. Arcadia Investment Management Corp MI now owns 29,811 shares of the conglomerate’s stock worth $2,131,000 after purchasing an additional 6,260 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Griffon by 178.4% in the 1st quarter. Inspire Investing LLC now owns 15,628 shares of the conglomerate’s stock valued at $1,117,000 after acquiring an additional 10,015 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Griffon during the 1st quarter worth approximately $53,994,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Griffon Price Performance

Shares of NYSE:GFF opened at $75.21 on Tuesday. The stock has a market cap of $3.50 billion, a PE ratio of 56.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.11. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 22.58. The stock’s fifty day simple moving average is $76.48 and its two-hundred day simple moving average is $74.06. Griffon Corporation has a 1-year low of $62.79 and a 1-year high of $86.73.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, August 6th. The conglomerate reported $1.50 earnings per share for the quarter, hitting the consensus estimate of $1.50. Griffon had a return on equity of 144.21% and a net margin of 2.78%.The business had revenue of $613.63 million for the quarter, compared to analysts’ expectations of $649.95 million. During the same quarter in the previous year, the firm earned $1.24 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. As a group, analysts forecast that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

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

About Griffon

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.