Investment House LLC Sells 37,993 Shares of Griffon Corporation $GFF

Investment House LLC cut its holdings in Griffon Corporation (NYSE:GFF) by 78.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,508 shares of the conglomerate’s stock after selling 37,993 shares during the quarter. Investment House LLC’s holdings in Griffon were worth $800,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its holdings in Griffon by 151.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 264 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Griffon by 8,720.0% during the second quarter. IFP Advisors Inc now owns 441 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 436 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Griffon during the second quarter valued at approximately $37,000. McIlrath & Eck LLC increased its holdings in shares of Griffon by 43.4% in the third quarter. McIlrath & Eck LLC now owns 539 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 163 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Griffon by 33.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 142 shares during the last quarter. 73.22% of the stock is owned by institutional investors.

Griffon Price Performance

Shares of GFF opened at $83.44 on Monday. The stock has a market cap of $3.89 billion, a P/E ratio of 83.44, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31. Griffon Corporation has a 1 year low of $63.92 and a 1 year high of $86.11. The stock’s 50-day moving average price is $76.41 and its two-hundred day moving average price is $76.26. The company has a current ratio of 2.66, a quick ratio of 1.34 and a debt-to-equity ratio of 18.99.

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

Griffon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th were given a dividend of $0.22 per share. This is a positive change from Griffon’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. Griffon’s payout ratio is 88.00%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GFF. Weiss Ratings reiterated a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. Stephens raised their price target on Griffon from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Wall Street Zen upgraded Griffon from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Zacks Research upgraded shares of Griffon from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, CJS Securities raised shares of Griffon to a “strong-buy” rating in a research note on Thursday, December 11th. Three 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, the company currently has a consensus rating of “Buy” and an average target price of $95.60.

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.