Frisch Financial Group Inc. Purchases New Shares in Griffon Corporation $GFF

Frisch Financial Group Inc. acquired a new position in Griffon Corporation (NYSE:GFF) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 13,500 shares of the conglomerate’s stock, valued at approximately $994,000.

A number of other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Griffon by 20.2% in the first quarter. Royal Bank of Canada now owns 94,955 shares of the conglomerate’s stock valued at $6,790,000 after buying an additional 15,925 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Griffon by 9.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,447 shares of the conglomerate’s stock worth $1,676,000 after buying an additional 2,047 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Griffon during the first quarter worth approximately $49,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Griffon by 21.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,035 shares of the conglomerate’s stock worth $6,080,000 after acquiring an additional 14,764 shares during the period. Finally, Strs Ohio acquired a new position in Griffon in the 1st quarter valued at $57,000. Institutional investors own 73.22% of the company’s stock.

Griffon Stock Performance

Shares of NYSE:GFF opened at $82.92 on Tuesday. The company’s 50 day simple moving average is $80.01 and its 200 day simple moving average is $79.50. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 637.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.86 and a quick ratio of 2.43. Griffon Corporation has a 1 year low of $65.01 and a 1 year high of $97.58.

Griffon (NYSE:GFF) last announced its quarterly earnings data on Thursday, May 7th. The conglomerate reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $421.86 million during the quarter, compared to the consensus estimate of $414.63 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.Griffon’s revenue for the quarter was down 31.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 EPS. As a group, research analysts predict that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 annualized dividend and a yield of 1.1%. Griffon’s payout ratio is presently 676.92%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GFF. Stephens upped their target price on Griffon from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Wall Street Zen downgraded Griffon from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird set a $115.00 price objective on shares of Griffon in a research report on Friday, May 8th. Zacks Research raised shares of Griffon from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Finally, Weiss Ratings cut shares of Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

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.