SG Americas Securities LLC Buys 8,007 Shares of Griffon Corporation $GFF

SG Americas Securities LLC grew its stake in Griffon Corporation (NYSE:GFF) by 151.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,302 shares of the conglomerate’s stock after purchasing an additional 8,007 shares during the quarter. SG Americas Securities LLC’s holdings in Griffon were worth $1,013,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Voss Capital LP lifted its stake in Griffon by 1.3% during the 2nd quarter. Voss Capital LP now owns 1,350,000 shares of the conglomerate’s stock valued at $97,700,000 after acquiring an additional 17,949 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Griffon by 7.7% in the second quarter. Raymond James Financial Inc. now owns 719,046 shares of the conglomerate’s stock valued at $52,037,000 after purchasing an additional 51,354 shares during the last quarter. Boston Partners lifted its position in shares of Griffon by 0.7% during the second 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. Ameriprise Financial Inc. boosted its holdings in Griffon by 52.1% during the second quarter. Ameriprise Financial Inc. now owns 295,657 shares of the conglomerate’s stock worth $21,397,000 after purchasing an additional 101,246 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Griffon by 4.4% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 295,222 shares of the conglomerate’s stock worth $21,365,000 after purchasing an additional 12,385 shares in the last quarter. Institutional investors own 73.22% of the company’s stock.

Wall Street Analyst Weigh In

GFF has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Wall Street Zen upgraded Griffon from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Stephens upped their price objective on Griffon from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. CJS Securities upgraded Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research lowered shares of Griffon from a “hold” rating to a “strong sell” rating in a research report on Friday, December 5th. Three 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 stock. According to data from MarketBeat.com, Griffon presently has an average rating of “Buy” and an average target price of $95.60.

Griffon Stock Down 0.6%

Shares of NYSE GFF opened at $84.71 on Monday. The company has a debt-to-equity ratio of 18.99, a current ratio of 2.66 and a quick ratio of 1.34. The stock has a market capitalization of $3.94 billion, a PE ratio of 84.71, a P/E/G ratio of 1.24 and a beta of 1.31. Griffon Corporation has a one year low of $63.92 and a one year high of $86.03. The business’s fifty day moving average price is $75.11 and its 200-day moving average price is $76.02.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Wednesday, November 19th. The conglomerate reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.02). The firm had revenue of $662.18 million during the quarter, compared to analysts’ expectations of $631.47 million. Griffon had a return on equity of 181.66% and a net margin of 2.03%.The company’s revenue was up .4% compared to the same quarter last year. During the same period last year, the business posted $1.47 EPS. On average, equities research analysts anticipate that Griffon Corporation will post 5.55 EPS for the current year.

Griffon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Friday, November 28th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, November 28th. This is an increase from Griffon’s previous quarterly dividend of $0.18. Griffon’s dividend payout ratio is currently 88.00%.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.