Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Sells 7,995 Shares of Griffon Corporation $GFF

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna reduced its position in shares of Griffon Corporation (NYSE:GFF) by 44.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,850 shares of the conglomerate’s stock after selling 7,995 shares during the quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings in Griffon were worth $725,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Voss Capital LP grew its stake in shares of Griffon by 13.7% during the 3rd quarter. Voss Capital LP now owns 1,535,000 shares of the conglomerate’s stock valued at $116,890,000 after purchasing an additional 185,000 shares during the period. SG Americas Securities LLC lifted its position in shares of Griffon by 396.8% during the 4th quarter. SG Americas Securities LLC now owns 66,088 shares of the conglomerate’s stock valued at $4,867,000 after buying an additional 52,786 shares in the last quarter. MHR Fund Management LLC purchased a new position in shares of Griffon during the 3rd quarter valued at about $9,519,000. Moran Wealth Management LLC lifted its position in shares of Griffon by 97.4% during the 4th quarter. Moran Wealth Management LLC now owns 52,258 shares of the conglomerate’s stock valued at $3,849,000 after buying an additional 25,790 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Griffon by 49.4% during the 3rd quarter. New York State Common Retirement Fund now owns 19,774 shares of the conglomerate’s stock valued at $1,506,000 after buying an additional 6,542 shares in the last quarter. 73.22% of the stock is currently owned by institutional investors.

Griffon Stock Down 0.4%

NYSE GFF opened at $85.53 on Friday. The stock’s 50 day moving average is $83.63 and its 200 day moving average is $80.70. The company has a current ratio of 2.86, a quick ratio of 2.43 and a debt-to-equity ratio of 14.77. Griffon Corporation has a 12 month low of $65.01 and a 12 month high of $97.58. The stock has a market cap of $3.92 billion, a PE ratio of 657.94, a P/E/G ratio of 1.43 and a beta of 1.42.

Griffon (NYSE:GFF) last posted its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The company had revenue of $421.86 million for the quarter, compared to analysts’ expectations of $414.63 million. During the same period in the previous year, the firm earned $1.23 EPS. The firm’s revenue was down 31.0% compared to the same quarter last year. Research analysts predict that Griffon Corporation will post 5.17 EPS for the current fiscal year.

Griffon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 29th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Griffon’s payout ratio is currently 676.92%.

Analyst Ratings Changes

GFF has been the topic of a number of analyst reports. 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. Zacks Research raised Griffon from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings cut Griffon from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Wall Street Zen cut Griffon from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Robert W. Baird set a $115.00 price objective on Griffon in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.00.

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.