Edgestream Partners L.P. Purchases Shares of 74,174 Griffon Corporation $GFF

Edgestream Partners L.P. purchased a new position in shares of Griffon Corporation (NYSE:GFF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 74,174 shares of the conglomerate’s stock, valued at approximately $5,368,000. Edgestream Partners L.P. owned 0.16% of Griffon as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Voss Capital LP grew its holdings in Griffon by 10.5% during the first quarter. Voss Capital LP now owns 1,332,051 shares of the conglomerate’s stock worth $95,242,000 after acquiring an additional 127,051 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Griffon by 52.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 951,120 shares of the conglomerate’s stock worth $68,005,000 after purchasing an additional 326,663 shares in the last quarter. Raymond James Financial Inc. boosted its position in Griffon by 9.8% in the 1st quarter. Raymond James Financial Inc. now owns 667,692 shares of the conglomerate’s stock worth $47,740,000 after purchasing an additional 59,797 shares in the last quarter. Boston Partners increased its holdings in shares of Griffon by 0.7% during the 2nd quarter. Boston Partners now owns 554,431 shares of the conglomerate’s stock valued at $41,068,000 after purchasing an additional 4,091 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Griffon in the 1st quarter valued at $22,108,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Griffon in a research report on Monday. Zacks Research upgraded Griffon from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Stephens increased their price target on Griffon from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Griffon presently has an average rating of “Buy” and an average target price of $95.60.

Griffon Stock Down 0.0%

GFF opened at $74.05 on Wednesday. The company has a market cap of $3.42 billion, a PE ratio of 74.05, a price-to-earnings-growth ratio of 1.08 and a beta of 1.28. Griffon Corporation has a twelve month low of $63.92 and a twelve month high of $84.24. The company has a 50-day moving average price of $74.06 and a 200 day moving average price of $74.44. The company has a quick ratio of 1.34, a current ratio of 2.66 and a debt-to-equity ratio of 18.99.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, November 19th. The conglomerate reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.02). Griffon had a return on equity of 181.66% and a net margin of 2.03%.The firm had revenue of $662.18 million during the quarter, compared to analyst estimates of $631.47 million. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts expect that Griffon Corporation will post 5.55 earnings per share for the current fiscal year.

Griffon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 28th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.88 annualized dividend and a yield of 1.2%. This is an increase from Griffon’s previous quarterly dividend of $0.18. Griffon’s dividend payout ratio is currently 88.00%.

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.