Griffon Corporation $GFF Holdings Lifted by Voss Capital LP

Voss Capital LP raised its holdings in shares of Griffon Corporation (NYSE:GFF) by 13.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,535,000 shares of the conglomerate’s stock after purchasing an additional 185,000 shares during the period. Griffon accounts for about 5.6% of Voss Capital LP’s holdings, making the stock its 5th largest holding. Voss Capital LP owned about 3.30% of Griffon worth $116,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GFF. Raymond James Financial Inc. increased its stake in shares of Griffon by 7.7% during the second quarter. Raymond James Financial Inc. now owns 719,046 shares of the conglomerate’s stock valued at $52,037,000 after buying an additional 51,354 shares during the period. Boston Partners lifted its stake in Griffon by 0.7% in the second quarter. Boston Partners now owns 554,431 shares of the conglomerate’s stock worth $41,068,000 after acquiring an additional 4,091 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Griffon by 45.7% in the third quarter. Segall Bryant & Hamill LLC now owns 430,209 shares of the conglomerate’s stock valued at $32,760,000 after acquiring an additional 134,987 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Griffon by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 427,674 shares of the conglomerate’s stock valued at $32,567,000 after acquiring an additional 25,681 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in Griffon by 16.6% during the 3rd quarter. Primecap Management Co. CA now owns 330,697 shares of the conglomerate’s stock valued at $25,183,000 after purchasing an additional 47,108 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.

Insider Buying and Selling

In related news, Director James W. Sight sold 3,070 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $96.15, for a total transaction of $295,180.50. Following the completion of the transaction, the director owned 13,872 shares of the company’s stock, valued at $1,333,792.80. This trade represents a 18.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seth L. Kaplan sold 15,000 shares of Griffon stock in a transaction on Monday, February 9th. The shares were sold at an average price of $95.44, for a total value of $1,431,600.00. Following the transaction, the senior vice president owned 119,747 shares of the company’s stock, valued at $11,428,653.68. The trade was a 11.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 10.20% of the company’s stock.

Griffon Stock Performance

Shares of GFF stock opened at $72.99 on Wednesday. The company’s fifty day moving average price is $83.73 and its 200-day moving average price is $78.13. The stock has a market cap of $3.40 billion, a PE ratio of 79.34, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31. The company has a current ratio of 2.55, a quick ratio of 1.27 and a debt-to-equity ratio of 12.36. Griffon Corporation has a 12 month low of $63.92 and a 12 month high of $97.58.

Griffon (NYSE:GFF) last issued its quarterly earnings results on Thursday, February 5th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. Griffon had a net margin of 1.76% and a return on equity of 228.83%. The company had revenue of $649.09 million during the quarter, compared to analyst estimates of $618.35 million. During the same period last year, the business earned $1.39 EPS. Griffon’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts expect that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, February 27th. Griffon’s dividend payout ratio (DPR) is presently 95.65%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Griffon in a research report on Monday, December 29th. CJS Securities upgraded shares of Griffon to a “strong-buy” rating in a research report on Thursday, December 11th. Wall Street Zen raised shares of Griffon from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Stephens lifted their price objective on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Finally, Robert W. Baird set a $108.00 target price on Griffon in a report on Friday, February 6th. Two 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.50.

Griffon Profile

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.