Griffon Corporation $GFF Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt cut its stake in Griffon Corporation (NYSE:GFF) by 58.5% in the second quarter, HoldingsChannel reports. The fund owned 20,400 shares of the conglomerate’s stock after selling 28,709 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Griffon were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. McIlrath & Eck LLC increased its position in shares of Griffon by 116.1% in the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the conglomerate’s stock valued at $27,000 after buying an additional 202 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Griffon by 72.9% in the first quarter. Signaturefd LLC now owns 555 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 234 shares during the last quarter. Optimist Retirement Group LLC boosted its stake in shares of Griffon by 8.4% in the first quarter. Optimist Retirement Group LLC now owns 3,894 shares of the conglomerate’s stock worth $278,000 after acquiring an additional 302 shares during the last quarter. Cetera Investment Advisers boosted its stake in Griffon by 6.5% during the first quarter. Cetera Investment Advisers now owns 5,503 shares of the conglomerate’s stock worth $393,000 after buying an additional 335 shares during the last quarter. Finally, CWM LLC boosted its stake in Griffon by 26.1% during the first quarter. CWM LLC now owns 2,000 shares of the conglomerate’s stock worth $143,000 after buying an additional 414 shares during the last quarter. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

Griffon Stock Down 2.5%

GFF opened at $77.00 on Wednesday. Griffon Corporation has a one year low of $62.26 and a one year high of $86.73. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 57.46, a PEG ratio of 1.20 and a beta of 1.15. The business’s fifty day moving average is $77.34 and its two-hundred day moving average is $72.73. The company has a debt-to-equity ratio of 22.58, a quick ratio of 1.38 and a current ratio of 2.70.

Griffon (NYSE:GFF) last released its earnings results on Wednesday, August 6th. The conglomerate reported $1.50 EPS for the quarter, meeting the consensus estimate of $1.50. Griffon had a return on equity of 144.21% and a net margin of 2.78%.The firm had revenue of $613.63 million during the quarter, compared to analyst estimates of $649.95 million. During the same period in the prior year, the firm posted $1.24 earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Analysts anticipate that Griffon Corporation will post 5.55 EPS for the current fiscal year.

Griffon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Griffon’s dividend payout ratio is presently 53.73%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GFF. Robert W. Baird boosted their price objective on Griffon from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Wall Street Zen lowered Griffon from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $98.20.

Griffon Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.